What is a Pension?

A pension is a post-retirement benefit an employee might receive from an employer that is based on the length of their employment and position. A pension is essentially deferred compensation received by the employee after retiring.

 

See Also:

How Much Do I Need to Retire?

Plan to Retire Someday? You’ll Want One of These

IRA vs. 401(k) — What’s the Difference?

Ask An Advisor: When Should I Collect Social Security?

Taking on Retirement’s New Normal

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