Which of the following best describes the purpose of a pension plan?

The purpose of a pension plan is to ensure future financial security for employees after they retire. These plans are designed to provide a steady income stream to retirees, helping them maintain their standard of living once they are no longer working. By accumulating funds during an employee's working years, a pension plan guarantees that the individual will receive benefits when they reach retirement age. This is particularly important as it allows employees to plan their retirement with the assurance that they will have financial resources available.

The other choices focus on immediate needs or services that do not directly relate to retirement planning. Immediate financial assistance would imply a short-term solution; employee training programs are designed for skill development during employment; and funding company-wide projects pertains to operational or business development goals rather than individual retirement security. Each of these alternatives fails to address the core objective of a pension plan, which is to provide long-term financial stability for employees once they retire.