Ran into old RT the other day in the land of the mouse. Retired with a pension from Novartis and flying an airplane a few days a week. I think he is an instructor of some sort. He's living the dream, and not letting the bastards get him down.
Most of those who retired at that time received a good pension. Depending on years, those who took the pension on a monthly basis NET between $4000 and $6000 per month. If they contributed to their 401K and had other investments, plus Social Security, they make more money than they did while employed with Novartis--my old partner is one
sounds exxagerated...Im almost 30 years if I retired today my pension id about 2 k grNted interest rates are much lower which has a big effect
Those who came over from the Ciba side (I believe that was his case) had huge pensions. They generally retired or were let go at a salary that is probably higher than it is for those who were brought on board later. My partner was in this position, and she had opted to get the check monthly which is not a terribly much less than what I take home after everything is taken out.
Thank God I am old enough to have qualified for a pension years ago when the changes were made. Grandfathering in has it's benefits, really feel sorry for the younger reps depending only on the 401K. Make sure you invest all you can, and don't rely only on what the company offers.
