Pensions - Are they really all that and a bag of chips?

[Laidbackman]

A lot of young people think pensions alone equal 80% of total income, when in reality it's more like 40%-50%.

 

[Laidbackman]

Not to mention only 38% of Boomers even have a pension. It probably drops down to around 34% for Gen Jones. Personally, other that the ones I worked with, I don't know any Gen Jones under 65 that even have one. Two of my Gen Jones buddies under 65 would have had a pension coming if they had lived.

 

[Idaeo]

I just accepted a position today that comes with a pension. It’s 1/3 of the total retirement payout..the other two being a 401k type and a tax holding account

 

[mson]

First job had a pension, but they capped it and discontinued it when the parent company got bought. I just recently rolled it over to my IRA.