All you need to know about Pension & Interest Rates

Discussion in 'Pfizer' started by anonymous, Jun 21, 2020 at 5:42 PM.

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  1. anonymous

    anonymous Guest


  2. anonymous

    anonymous Guest

    Exactamundo Pfizer intentionally does not education or train employees on the elements of a FROZEN Pension nor the components of Lump Sum Pension Value movement with Interest Rates.
    If they did EVERY employee would look at cashing in & moving on to something lateral pay or greater because Rates are Lowest they will get & Pension Values are highest they will be at near 0-1% rates.
    It is not the employees fault that they are clueless on the complex dynamics of a Frozen Pension-- it is gross negligence of Pfizer for intentionally not educating employees (after all Pfizer has 19 Billion on Balance Sheet as company Assets which they leverage financially thus do not want to be writing out Lump Sum checks to all these employees and loose those assets on balance sheet)
     
  3. anonymous

    anonymous Guest

  4. anonymous

    anonymous Guest

    Perfecto. Agree from a wife of a CFO who is also has law degree at one time working in Pension Law--- IF you have a Pension that is FROZEN AND you can get the Lump Sum, you should ALWAYS leave IF you can find equal pay on a lateral move. Take your Lump Sum & invest yourself in your control.
    What many do not realize is, a FROZEN Pension is not collecting a single penny of interest--- not even money market or CD. FROZEN IS FROZEN. The funds, in Pfizer case is 16 Billion on the Assets of their balance sheet per 2019 financials, are invested in money market/ guarentee fixed income/ & leveraged as assets for debt services like bonds. Pfizer is making & keeping several % a year off the 16Billion of Pension funds in a Swiss Bank (yes when you leave the pension lump sum is wired from a Swiss bank as the interest rates pay lot more in Swizerland & lower taxes on that $$)
     
  5. anonymous

    anonymous Guest

  6. anonymous

    anonymous Guest

    Frozen means FROZEN, not even money market return- zippo!
    Be SMART & Take lateral job & take control of your own money for $$$$$$$ in 15yrs
    Or say & be financially average.
     
  7. anonymous

    anonymous Guest

  8. anonymous

    anonymous Guest

    if you have already left Pfizer but didn't take lump sum pension, can you still take it?
     
  9. anonymous

    anonymous Guest

    YES anytime after you leave unless you are Legacy Upjohn & you have 1 yr after retirement to take Lump Sum.
     
  10. anonymous

    anonymous Guest

    My dad is a Pension Lawyer in NYC.
    This is spot on accurate around a Frozen Pension. Weather Chevron or Pfizer the only people who benefit off a frozen Pension is the company. Zero interest or growth. However while the corp can not spend your pension money, most corp are not fully funded anyway & the amount they do have on the balance sheet is a co asset. They invest it fixed income and corp earns the growth & interest off of it.
    Being an asset, corp use it to strengthen balance sheet also to leverage debt & loans

    In pfizer case the 2019 financials show 17 billion in pension assets Pfizer is earning growth off of.
    This is 100% legal . But it does show you why Pfizer & others do not proactively education employees what a Frozen Pension is all about & the options available (like lump sum rollover to direct IRA to invest & make $$$)
    And dont get me started on the supposed Retirement Medical at age 55, according to my dad the lawyer that is also a creative accounting loophole for corp to avoid taxes on hundreds of millions as the corp artifically inflates insurance prem lot more than you can get on the street & you can only use on the monthly prem - nothing else -- and it MUST be Pfizer insurance -- nobody else regardless how much cheaper.
    Take your Pension $$$$ and invest if you can find a lateral paying job.