5 roles that one can play to be able to access such pension benefits

Answer 1

1. Employee: Individuals who work for a company or organization that offers a pension plan can access pension benefits by being an employee and contributing to the plan through payroll deductions.

2. Self-Employed Individual: Those who are self-employed can set up their own retirement accounts, such as a Simplified Employee Pension (SEP) or a solo 401(k), to access pension benefits for themselves.

3. Spouse: Some pension plans allow spouses of employees to access pension benefits, either through spousal benefits or survivor benefits after the employee passes away.

4. Beneficiary: Individuals named as beneficiaries in a pension plan can access benefits if the plan participant passes away. Beneficiaries may include spouses, children, or other designated individuals.

5. Retiree: Once an individual reaches retirement age and meets the eligibility requirements of a pension plan, they can access pension benefits as a retiree. This typically involves receiving regular payments from the plan based on the individual's years of service and salary.