Question about the Pension?

Discussion in 'Pfizer' started by Anonymous, Sep 28, 2013 at 10:03 AM.

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  1. Anonymous

    Anonymous Guest

    We're all Republicans here and we fully support everything that benefits big business and corporate profits. Slashing pensions makes good sense for every corporation - once people leave the corporation they should get nothing. Pensions are nothing but socialism anyway. Wrinklies may have to adjust their expectations of a comfortable retirement but that's tough - corporate profits come first in the USA. That's what the GOP is all about and we're all onboard!!!!!
     

  2. Anonymous

    Anonymous Guest

    So true. Excellent points made here.
     
  3. Anonymous

    Anonymous Guest

    This article was on Yahoo today. Yet ANOTHER reason to take a lump sum!!

    Pensions Ask Retirees to Pay Back Tens of Thousands
     
  4. Anonymous

    Anonymous Guest

    This information may be helpful to others.
     
  5. Anonymous

    Anonymous Guest

    Left pharma...and don't miss it a bit.

    I look at this site periodically, as I am curious to see/hear the state of the industry. Nothing has changed. Again, don't miss it a bit!

    My concern is if the pension I earned will even be accessible given the state of the industry, and specifically Pfizer.

    Folks, there IS life after Pfizer! Prepare yourself for the next downsizing!
     
  6. Anonymous

    Anonymous Guest

    Even if Pfizer craps out and stops funding the pension, the Feds will pick it up. Since you're out of the industry and probably don't have 20-30 years accumulated, your pension is probably not large enough to go over the threshold where you're truly f**ked if that happens. They have taken steps to limit liability like not offering to new employees and stopping it altogether in 2017. Chances are it will be fine, although this is Pfizer......we all know how much they care for their employees and retirees-never mind ex-employees!
     
  7. Anonymous

    Anonymous Guest

    Yes. Anything that could threaten more profiteering of corporations is Socialism.
     
  8. Anonymous

    Anonymous Guest

    Thank you for your thorough and realistic response!

    Correct, my pension from Pfizer will not be huge, yet, a nice add-on to my planned retirement.

    Fortunately, I am accruing a pension with my new employer...hence, I believe (hope!), I will have a solid pension with this corporation.

    Yes, it was interesting (sad!) to see/read (received notice in mail) about the ultimate elimination of NEW employee Pfizer pensions. Pfizer is not the only US-based corporation to eliminate. Therefore...socking it away in 401s is critical.

    Plan your retirement wisely...it will be here before you know it! :)
     
  9. Anonymous

    Anonymous Guest

    And if you croak your pension belongs to Pfizer.
     
  10. Anonymous

    Anonymous Guest

    What we have to think/worry about is when/if Pfizer sells your pension fund to someone else, probably an insurance company.....then the gov't funding of your pension is under other rules and regs. And, we have to be concerned with the strength of whoever Pfizer sells it to.
    Take the lump, invest it and get on with your life. Aren't you people as sick of Pfizer running your life as I am!!!???
     
  11. Anonymous

    Anonymous Guest

    As someone who was lucky enough to get out at 62 (this rarely happens now nor will it be so in the future) my advice is to hang on as long as you are possibly able with the medical benefits, accruing more in your 401K, pension, etc. and usage of the company vehicle. Yes, or course it is stressful but what do you expect when you are earning higher-than-many-people income.
     
  12. Anonymous

    Anonymous Guest

    If you are lucky enough to have a lump sum option (that is big), you have to keep interest rates in mind also. A low interest rate ='s a higher payout. You stay two or three (or one) more year-interest rates go up, your lump drops pretty bad, and all of a sudden you worked for nothing (even contributing to your 401K). Just saying....lots to consider.