An employment pension is a retirement savings plan established and funded, in whole or in part, by an employer to provide income for employees after they retire.
Tips & Links
An employment pension, also known as an occupational pension or employer-sponsored pension, is a retirement plan provided by an employer to their employees as part of their employee benefits package.
Learn More
- Ask your employer to provide information about your pension plan including details about matching contributions, other benefits (for example, health benefits), and payment schedules.
- Ask about ongoing health benefits such as extended health care coverage, dental care, vision care, and coverage of prescription medications.
- Talk to your financial planner or qualified care partners about your employment pension, deciding when to take your pension, and the amount you should receive. Ensure you understand all the parts and choices around your pension payout.
- Include your employment pension can be a significant part of your financial plan.
Things You Can Do
- Talk to your financial planner or qualified care partners about eligibility criteria about pension opportunities as part of your financial plan.
- Inquire what your employment pension may be if you are working on a part-time basis due to your health condition.
- Learn if your employment pension includes supplemental health benefits, such as coverage for medications or therapies.
If you have a chronic health condition or disability, explore all available pensions and benefits early to support your financial and lifestyle plans while managing your health. Mywell Health lists potential benefits under My Financial Plan, with more details in the resource kit.
Tools & Videos
Categories: My Financial Plan, Senior
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