Find out: what types of pensions exist

In family or work relationships, it is common for there to be some type of financial dependence, but what happens when this source does not fulfill its role of providing for some reason? That is what a pension is for.

Contrary to what most citizens think, there are different types of pension, which meet different needs. Before finding out what they are, and who is entitled to receive it or is obliged to provide it, it is interesting to understand the concept of this right.

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What is a pension?

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Technically, the term pension is used to refer to an income that needs to be provided periodically to a person, and that must be paid by the State, an institution, company or another person, this issue varies according to some requirements.

The amount to be paid is defined by a judge or body, which analyzes a series of points, but the main objective of paying and receiving the pension is to support someone who has been left helpless for some reason and needs and/or has the right to this support.

But does this vary depending on the type of pension? And what are the reasons and requirements that a person must meet to be able to receive it?

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Alimony

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This is the best-known model, mainly because it is a right of children whose parents are divorced, for example.

However, this is not the only reason why a person may be entitled to receive alimony; it is intended to contribute to or cover the costs and support of a human being's basic needs, including health, education, leisure and food.

To determine who should pay and receive this assistance, the parties must have some type of family relationship, as in the most common case, between parents and children.

Pension terms also vary, but in the case of child support, payment must be made until the child reaches the age of majority and completes higher education, which normally occurs at the age of 24.

This may vary according to the needs and conditions of each family, and may extend this period and even be a lifelong benefit. In any case, every decision regarding the period, payment and amount is determined by a judge and requires his/her authorization to be terminated.

There is the possibility of payment of alimony between grandparents and grandchildren, ex-spouses , siblings and other relatives, as long as the need and possibility are proven. These issues are also defined by a judge and may vary according to each situation.

As a rule, the amounts to be paid are between 15% and 30% of the monthly income of the person responsible for payment, which can be made in different ways, whether monthly, fortnightly or semi-annually.

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Survivor's pension

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Another way of receiving a pension is in cases of death of family members. This type of pension is paid by the State and is provided after confirmation of death and proof of compliance with the requirements through the INSS.

The pension is intended for the spouse, children or stepchildren under 21 years of age of the deceased, and its value is usually between the value of the minimum wage and the social security ceiling, which is the maximum that the INSS can provide. The calculation to arrive at this value is based on the contributions made during life, to the Agency, by the deceased.

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Disability pension

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Also called disability retirement, this pension is granted by the State to those who, due to illness or accident, are unable to practice their profession.

This amount is determined based on contributions from the INSS, the body responsible for its payment.

It is now easy to know who is entitled to receive and what types of pensions there are.

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