Why Is A Pension Plan Important?
61667 POINTSview profileSteve SavantSyndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale ArizonaA pension or retirement plan is important because you're basically paying yourself for your future lifestyle during retirement. By establishing a disciplines saving method, you can set aside monies for future income when you retire. Some pensions are qualified, others are non-qualified plans, while some are employer sponsored and others are individual plans.Answered on August 14, 2013flag this answer- 61667 POINTSview profileSteve SavantSyndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale ArizonaA traditional pension plan is generally categorized as a defined benefit plan. The old school convention was managing retirement to an established amount in the future. That was then. Now defined contribution plans are much more in vogue. Many government and private pension plans are operating with a short fall. Most advisers appear to be recommending defined contribution plans.Answered on September 10, 2013flag this answer
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