What is a pension??

Question

If I get a job with pension, what will I be getting?

Answer 1

it means you will be getting a certain amount deducted from your wages/salary weekly and it is invested for you. It is also called superannuation The account you build up is paid interest and that interest compounds so that when you retire you will have a regular income just as if you were working. To establish a good pension scheme could be expensive the later on in life you commence the scheme. Also, you can arrange to have the payments made directly from your salary by the paymaster.

Answer 2

A pension is a steady income given to a person (usually after retirement). Pensions are typically payments made in the form of a guaranteed annuity to a retired or disabled employee. Some retirement plan (or superannuation) designs accumulate a cash balance (through a variety of mechanisms) that a retiree can draw upon at retirement, rather than promising annuity payments. These are often also called pensions. In either case, a pension created by an employer for the benefit of an employee is commonly referred to as an occupational or employer pension. Labor unions, the government, or other organizations may also sponsor pension provision.

Answer 3

A job with pension benefits means that money is taken from each of your paychecks and paid into a pension fund. That money is invested, and when you reach retirement age you will be able to collect a paycheck every month from that fund. The amount of your pension check will be based upon how much and how long you paid in to the plan. Sometimes there are requirements about having to pay in to the plan for a certain number of years before you can be eligible to collect from the plan.

I hope this helps.

Answer 4

A pension is like a retirement fund. Through the years part of your income is put into a retirement savings account, and upon retirement you can collect the money.

Answer 5

Honestly, a job with no security; because most jobs today cut pensions left and right. They also cut retirement. Do not go into a job for security, because there is no such thing as job security anymore. Find something legally worthy that works for you, and start your own business. It is the only way to secure your financial future.

Answer 6

I'm translating direct from spanish, and what it means is like a salary you receive when you are retired. There are voluntary pension funds, that discount a certain amount from your salary each month, and when you aquire certain time investing in this fund, you receive a pension.

Answer 7

pension is what you will receive once you retire if you are that lucky to be able to retire these days. when you are working for a company you pay into social security and hopefully some sort of pension or 401k plan to provide for your retirement.

Answer 8

Its the money you will get after you retire.

Answer 9

$$$$$$ when you retire.