Got my first pension check...

[Souschef]

Congratulations. DH is coming up on 10 years retired and still giggles that he gets paid for doing nothing. And he's so good at it!

Enjoy your retirement!

Same here! Coming up on 132 checks! My pension was frozen years ago, so it is not very big. We went to 401K's which I funded to the max. I rolled it over when I retired, and it is now in the low 7 figures

 

[Badger]

Good for you and congratulations on the first pension check. But don't be fooled. You worked for every penny of that money. You are just getting it later than usual.


Cheers!

 

[jollystomper]

Congratulations! I am also fortunate enough to be getting a check. It covers 60% of our expenses so I am not complaining.

 

[CindyBlue]

I'm still waiting for Social Security...have 14 months to go...sigh...meanwhile, I'm planning that my savings will get me through to that magic day.
My pension is not cola'd, so I know I'll have to do more with less as time goes on, but at least I have something, which makes me feel very lucky!

 

[CaptTom]

We're probably among the last to ever see a pension. Not sure if this is a good thing or a bad thing.

But when they told me I could stay home and still get paid 40% of my salary for the rest of my life, I didn't complain.

 

[Big_Hitter]

We're probably among the last to ever see a pension. Not sure if this is a good thing or a bad thing.

But when they told me I could stay home and still get paid 40% of my salary for the rest of my life, I didn't complain.

you think the military is going to drop their pensions?

 

[VanWinkle]

Pensions big or small are a blessing in these times. Enjoy and congrats.

 

[gcgang]

My company terminated their DB plan in 1984 after I'd been there 3 years and was still in my 20s. They said I'd get $250/month when I turned 65. I laughed and thought, maybe that'll cover a months golf dues. I just received my 6th check. It doesn't.

Even that small amount, I've never thought that they're paying me for not working. I earned that $.

 

[Gumby]

My company terminated their DB plan in 1984 after I'd been there 3 years and was still in my 20s. They said I'd get $250/month when I turned 65. I laughed and thought, maybe that'll cover a months golf dues. I just received my 6th check. It doesn't.

Even that small amount, I've never thought that they're paying me for not working. I earned that $.

I consider it deferred compensation, not a gift.

 

[Badger]

My company terminated their DB plan in 1984 after I'd been there 3 years and was still in my 20s. They said I'd get $250/month when I turned 65. I laughed and thought, maybe that'll cover a months golf dues. I just received my 6th check. It doesn't.

Even that small amount, I've never thought that they're paying me for not working. I earned that $.

I hear you. Mine is close to the same. I thought maybe it would pay for a weekly Big Mac. Not too far off.



Cheers!

 

[CindyBlue]

"I've never thought that they're paying me for not working. I earned that $."

Yes, that's probably true, but I've not thought of it that way. I've not really thought about it at all most of my working life...it was just something that, in the future, would (probably) be there someday when - if - I stopped working.

The "paying me for not working" is just a humorous phrase, not meant to be taken literally.

 

[jimbee]

I consider it deferred compensation, not a gift.

I agree, that money was earned, it is not a gift.

 

[dtbach]

Congratulations! It's a wonderful feeling getting those checks. I've gotten a military pension for 6 years now and both my DW and I got our first SS checks this month (her own and restricted for me). Those make us FI just on that amount.

 

[RetireAge50]

...this past Friday. Not enough to live on, but still...they are paying me for not working! Gotta love it!

Definitely worth celebrating! I disregarded them for most of my working years until I realized how good they were. Our pensions cover all the basics and automatically increase a fixed 3% every year. All the rest of our money can now be used for major expenses and goofing off. Yee Haw!

 

[dtbach]

All the rest of our money can now be used for major expenses and goofing off. Yee Haw!

That's the best part!!

 

[zinger1457]

I'm about to join the club, submitted my paperwork a couple months ago to start collecting my pension, expect the first check in January. Won't be a huge amount, only covers my last job (14 years).

 

[rk911]

I’m about to get my 81st pension deposit. Time sure flies!

let's see...i'm about to get #173. but i still remember #1 even though it was an e-mail direct deposit notice.

to the OP...congratulations!!

 

[Fermion]

If only more people considered SS also earned and not a gift...sigh.

 

[Big_Hitter]

If only more people considered SS also earned and not a gift...sigh.

why, just because we paid about 13% of our career pay (up to the TWB) into it?

 

[Offgrid Organic Farmer]

...this past Friday. Not enough to live on, but still...they are paying me for not working! Gotta love it!

Congratulations

I remember my first pension check in 2001. It is a huge landmark.

 

[statsman]

Pension? What's that?

I have one, but the company I worked for unceremoniously phased out pensions about the time I was laid off after 30+ years with the company. Those few I knew who hung on longer than I did had their pensions frozen. The company switched to funding their 401(k) plans instead.

The 401(k) funding isn't huge amount, but at least the employees get to keep it and don't have to worry about obtaining a minimum number of pension years to receive one (as I did).

Honestly, I would have preferred the additional 401(k) funding. At the time of my layoff, I was offered a lump sum that I hoped would at least match what the pension ended up paying. It wasn't even close, but I was a bit surprised at the number of ex-employees who opted for the lump sum (company had been in perpetual layoff mode for the six years prior to mine).

 

[CaptTom]

I always assumed they could come up with some flimsy excuse to pillage the pension fund if MegaCorp ever starts running low on cash.

Maybe my pension was "earned," but until it's in MY bank account, it's like counting chickens before they hatch.

After my first few years, when MegaCorp #1 took us over, our CEO promised we'd be "made whole" in the pension system for our time there. He was actually the best CEO we ever had.

He bailed with his golden parachute, and that was the last we'd heard of that promise.

I'd be getting quite a bit more today if I had been able to take credit for that time.

So, no, I don't trust the folks who run ANY MegaCorp.

 

[Amethyst]

Who considers SS a gift? I don't even qualify, and yet I'm aware it's an earned benefit.

Either way, it's an entitlement, which means the government has to pay you before any discretionary money is spent. So let people "consider" it whatever they want.

If only more people considered SS also earned and not a gift...sigh.

 

[UnrealizedPotential]

I'm old enough to begin my pension at age 50. But the amount gets bigger for each year I wait until 65. I am not sure when I will take it. I currently am looking at it as one of my back up plans.

 

[jfn111]

I'm about to start my 7th year of pension checks. It works out to about $22 per hour for not working.