Pensions are a great benefit to receive after you retire. Not many organizations offer pensions anymore. It can get very costly. If you do get a job that offers one don’t take the benefits of a pension lightly. Pensions is a powerful tool to attract workers because it is rare and to keep employees at an organization until they retire for longer retention.

If you join a company or organization that offers a pension at a young age you may not realize how big of a benefit this is because retirement age is far off for you. On the opposite end, the older you are the more appealing it is to have a pension. The biggest benefit, by far, is the income you will be receiving after you retire. Social security will be one source of income that almost everyone will receive. If you have a pension, this is a second source of income. What a benefit to have!

One of the biggest employers that offers a pension is the federal government. Many federal employees work for 20+ years to maximize their pension amount. The more years you have with the federal government the higher percentage payout you will have.

Jobs with pensions may not have a high salary. This may be a negative especially if you can make more elsewhere. However, definitely consider the entire package. Lower salary with a pension, in the long run, can be more valuable than higher salary with no pension.

Other jobs that typically have pensions include teachers, firefighters, and police officers. I know a friend who does HVAC work and his company has a pension benefit. Pensions are rare these days but they still exist. The more income you have in retirement the better positioned you will be financially. One of the big benefits of a pension is that extra income. If you are interested in following my journey and their journey, follow them on Instagram and email subscribe to get alerts of latest posts or follow me on Facebook, Instagram, and Pinterest.