New pension 2026

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anonymous

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Just listened to the webinar about new pension coming up in 2026. They said it would be very competitive but when I compare to the current pension plan i have been having for the past 25 years, i see major flaws and disadvantages. How will this switch not trigger a substantial exit of experienced employees? Is this a real intent here?
 


anonymous said:
Just listened to the webinar about new pension coming up in 2026. They said it would be very competitive but when I compare to the current pension plan i have been having for the past 25 years, i see major flaws and disadvantages. How will this switch not trigger a substantial exit of experienced employees? Is this a real intent here?
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Yes the new pension is not a good as the old pension. It sucks. But millennials and gen X Y F U C K don't care because care because they get 40 community service hours.
 




There will be no exit. Majority of the people who are long timers have limited skill sets, they are just lazy paper pusher .. that’s why J&J is now in serious trouble
 


Yeah it will be competitive alright but that's when compared with other companies that offer very little in the way of pensions. Much like the harmonisation that used to occur when they dragged all the divisions down to the level of the lowest offering in any area.
 


anonymous said:
There will be no exit. Majority of the people who are long timers have limited skill sets, they are just lazy paper pusher .. that’s why J&J is now in serious trouble
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I actually think there will be a big exit, an accelerated exit for early retirement. If you are in the 55-62 age bracket and have 25-30 years under the old pension plan, the new pension plan doesn’t retain your anymore.
 


anonymous said:
why “is not as good as the old pension” ?
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New "pension" isn't really a pension, it's just an extra 15% of your salary that goes into a cash savings account that you can rollover into an IRA when you leave the company.

JNJ already adjusted their pay scales downwards by 15% years ago to take this into account.
 


Seriously IMHO I do not expect a “huge” exit but maybe a slightly “higher than normal” exit of these 55+ year old J&J people in 2026. Baby boomers love to work and the pension switch will not make many of these highly qualified, skilled, and knowledgeable people leave. They want to keep working, especially from home, have no desire to work for peanuts at Walmart or Lowe’s or McDonalds with 18-25 year olds. The ones that could leave are the ones just younger than them. Some number of people age 30-45 with less than 20 years might jump to a local location of a Pharma or MD or Consumer company that still has a decent pension. Many of these people have family members, neighbors, or friends that work for some of these other companies now and will be able to slide in. There are still a few companies with nice pensions such as Abbott, Merck, Pfizer, Eli Lily, and Proctor & Gamble for example - see one link below. Some of these companies are reducing and not externally posting a lot of new positions. Also a bit of political (tariff or other) uncertainty for some of these companies, especially those with large offshore manufacturing footprints. J&J is still, for now, on many of these lists of healthcare companies with pensions.

Believe it or not a small number of people will jump to Kenvue after they leave J&J for “retirement” or after being rif’d from J&J utilizing their connections & relationships but salaries will be lower and benefits will be light, such as bonuses so some of these people will get frustrated & leave after 1-3 years.

https://finance.yahoo.com/news/15-biggest-companies-offer-pensions-143402543.html
 



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