1.   From some angles, it looks to be a pension plan offering monthly retirement benefits commensurate with contributions.

2.   There has been criticism about the current method for figuring social security retirement benefits.

3.   A stringent new means-tested pension system was part of a radical budget package announced in July, sharply reducing health, education, housing and retirement benefits.

4.   Policyholders were able to benefit from higher levels of retirement benefits for the same premium because the death provision was limited.

5.   But the focus is often entirely on the lower death benefit, with the higher retirement benefit -- often the main purpose of the contract -- being overlooked.

6.   The higher death benefit before retirement is allowed for by an equivalent reduction in retirement benefit.

7.   But remember that any increase in death cover is likely to come out at the expense of a lower retirement benefit.

8.   Mr Clamp said the Budget move could also force more employers away from final salary pension schemes and into money purchase schemes which do not guarantee retirement benefits.

9.   Also eliminated is a lifetime retirement benefit for Irani and his surviving spouse.

10.   Also, Goodman has no pension plan, so employees who had been accruing retirement benefits under Raytheon ownership will no longer receive those benefits, the spokeswoman confirmed.