Pfizer Pension

Discussion in 'Pfizer' started by Anonymous, Mar 15, 2014 at 10:36 PM.

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  1. Anonymous

    Anonymous Guest

    Question?

    If we get severed before we are 55 does that mean we do not get our lump sum payout at 55?

    What if our age and years add up to 55 does that mean we can get the pension lump sum now, or I we just out of luck.

    I know that I should know this so please just the real answers, much appreciated.
     

  2. Anonymous

    Anonymous Guest

    All the details are available online , including eligibility for early retirement benefits
     
  3. Anonymous

    Anonymous Guest

    It also depends what company you originated from. L-Pfizer pension has different rules than L-Wyeth or the other companies that Pfizer gobbled up. Look at your pension calculator in hrSource and put in various dates for last day worked. That will give you an idea of what you will get and if you are eligible for the lump(if there is no lump sum listed under a last day scenario date, than it probably means you can't get one). The interest rate when you hit 55 will also determine payout for a lump sum. Also age and years adding to 55 means nothing. Wyeth had a "rule of 70"-it's now gone; Pfizer has a "rule of 90"-still there.
     
  4. Anonymous

    Anonymous Guest

    How could they change the Wyeth Pension, isn't that written in stone?
     
  5. Anonymous

    Anonymous Guest

    does anyone read the plan documents? why is there ambiguity with respect to something so important. inform yourselves on this topic.
     
  6. Anonymous

    Anonymous Guest

    They didn't. Only thing that's gone is rule of 70 and the Wyeth retirement medical plan. They stayed for two years after the takeover and then disappeared as part of the agreement. L-Wyeth people who retire now fall under the Pfizer medical during retirement-that is if you retire after 55 and are still employed by Pfizer. If your gone before 55 you don't get medical.
     
  7. Anonymous

    Anonymous Guest

    You want the real answer?? Get off your arse and read the dcuments. Why would you ask a stupid question like that here?
     
  8. Anonymous

    Anonymous Guest

    Why would you act like such a jackass in here? You must be one of those managers that can read fine print but can't sell shit. The fine print in the documents is so confusing that if you call HR 3 times, you get 3 different answers. When I called to get my first 'retirement estimate', whoever prepared it was so stupid they neglected to include my first 26 years with Wyeth. This is why people ask questions instead of just reading and trusting HR crap.

    To the OP, ask all the questions you want. It's buyer beware around here.

    To the 'document reader' - documents has an 'o' in it Mr or Ms Internet Smartass.
     
  9. Anonymous

    Anonymous Guest

    Legacy Pfizer is leave (for any reason) before 55 and your only option will be the annuity (beginning at age 55 if you choose to take "early" retirement).
     
  10. Anonymous

    Anonymous Guest


    You've got to be some serious stupid if you think that asking such an important question over cafepharma makes any sense, than reading your plan documents or contacting someone that handles pension questions at Pfizer.
     
  11. Anonymous

    Anonymous Guest

    Reading plan documents-yes. Getting accurate information from someone in pension department-maybe. They have a lot of incompetent people in that department who give conflicting information. Kind of sad, but that's the experience many people have when they call.
     
  12. Anonymous

    Anonymous Guest

    Read your plan's SPD, Summary Plan Description document. It ALWAYS says they have the right to change or terminate the plan (defined benefit plans for sure) whenever they want to.
     
  13. Anonymous

    Anonymous Guest

    If you think its so easy, try figuring it out. If you do your pension it still has a place that checks for the 70 rule for Wyeth people. So does that mean its still real or its not. Its that kind of stuff that is conflicting, plus go and try and look at the pension information it has info from 2011.

    Really, I personally think my Pfizer friends are better at answering then Pfizer help desk. Thank you to the person who gave me permission to ask questions.
     
  14. Anonymous

    Anonymous Guest

    It's true the HRSource people are terminally clueless. But what would you expect when you outsource it to the Philippines? Accurate information on pensions and other benefits may be a critical need for the employees bur Frank and Ian see it as needless expense. It's not like we really own anything in Pfizer!!!
     
  15. Anonymous

    Anonymous Guest

    own it, I'm going to RENT IT !!