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.
- 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.
- Be aware that your employment pension can be a significant part of your retirement financial plan and that is why it is listed in your Mywell Health planner under My Financial Plan.
Tools – Handouts & Videos
Categories: My Financial Plan, Senior
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