Which of the following best describes the goal of pension funds offered by unions?

The primary goal of pension funds offered by unions is to ensure financial security in retirement. Pension funds are designed to accumulate money over the working life of an employee, which is then disbursed to that employee upon reaching retirement age. This financial planning helps members maintain their standard of living after they stop working, emphasizing the importance of long-term financial stability.

Pension plans involve contributions from both the employer and the employee, and they often grow over time through investments made by the fund. The funds are usually tailored for the purpose of providing a steady income to support retirees. This focus on long-term financial well-being distinguishes pension funds from other types of financial assistance, such as immediate financial aid or short-term unemployment coverage. While educational initiatives may be supported by unions, they are not the primary aim of pension funds. The essence of pension funds is to safeguard the future of union members once they retire from their careers.