RETIREMENT Primer – #2 PENSIONS

Some fields of work still provide reliable pensions, namely jobs with the government – teachers and soldiers are a good example.  Regardless, the government has been tampering with lowering soldiers retirement benefits, and many states challenge teacher pay regularly.  While pensions, in some fields, probably can never be challenged to extinction – many fields, if not most fields, will never offer such ultimate protection.

Before the 1990’s pensions at corporations seemed to be a real facet of the economy, but after the layoff waves started, followed by deep out-sourcing, human beings have been treated like expendable, temporary assets to companies more often than not…

         I wouldn’t be alone in maintaining very little faith in corporate pensions, because for every company that still offers them, there are examples of dozens of companies that dissolve pensions, fight to avoid paying pensions, or situations in which the business experience corporate sale of the company itself, which could effectively collapse the pension into the fires of greed or negligence…

Corporate America has become so unabashedly greedy that there isn’t really an unwavering guarantee of retirement income.  Some would argue that a person would be better of quitting their day job and lobbying for better government subsidized retirement benefits than holding your breath in the ocean of corporate sharks, while waiting for a pension! (Don’t do that, just plan for retirement!)

         Sure, somewhere in the dense forest of Big Commerce, there are exceptions, and like a giant fist-sized diamond in the rough, some rock-solid pensions might still exist – however pension paranoia was not created in rhetoric alone, but by the actions of others, and the lives crudely disrupted by those actions.

        If we spend our own personal money rampantly, hoping that an employer’s retirement package is never challenged, there could be a rude awakening in the future.  We exist in a corporate environment that does not reward loyalty overall, and really, the concepts of rewards and loyalty usually have no place in the conversation.

If you have a steady pension plan – good for you!  The rest of the world must pretend there is no such thing, this requires some radical ideas to guarantee some chunk of our future, or else be swept into the misery of poverty.

SAGA can save your friends! Feel free to like and share!

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