Re:National Geographic Society sets biggest layoff in its hi...
by ghaff on Wednesday November 04, 2015 @01:37PM
(#10508544)
>Pensions are almost always better for the worker. The issues on the employer side are almost always a result of underfunding, or “diversion" of employee funds for some short term crisis.
So they're a better deal except when they're not in that you can lose it all or have your benefits drastically reduced through bankruptcy etc.
More broadly, defined-benefit pension plans were designed for a world where you expected to work your career at the same organization. Pensions tend to make it very expensive to move around companies. (Hence, people in the US military sticking around for their 20 year mark for example.) It's very much a related problem to health care being tied to employment.
So they're a better deal except when they're not in that you can lose it all or have your benefits drastically reduced through bankruptcy etc.
More broadly, defined-benefit pension plans were designed for a world where you expected to work your career at the same organization. Pensions tend to make it very expensive to move around companies. (Hence, people in the US military sticking around for their 20 year mark for example.) It's very much a related problem to health care being tied to employment.