Pension

[weblover78]

How exactly do pensions work? I have never worked at a place where there was a pension offered. What I don't get is how do companies get away with going out of business and then people lose their pensions. Are they set up so companies can borrow from employees pensions? Don't you as an employee pay into a pension. Sorry for so many questions just have never had the opportunity to belong to a pension through my job so I have no clue how it all works.

[Asad]

Its too simple. You get a fixed amount of salary after your retirement and this will continue till your death.

[Batman]

If you count on Social Security pension you should stop count and take care of yourself, don't count that 401K or Roth IRA will cover you retirement needs once you turn your retirement age! I never count on social security even that I am in " baby boomer" age! I don't trust social security and government and that the reason I am wealthy !

As financial adviser I love helping people to became financial independence and change life!

[pranith]

pensions provided by some companies are very good and pension is nothing aa fixed about of payment which is given to you every month after the retirement.

[bika]

In my country only government provides pension. if your service in private sector then dont expect pension in my country.

[puchchu]

You will get money, I mean fix amount after your retirement everymonth. That calls pension and now you decide how it works.