Current Events > Why do you have to work at one company for 30 years straight just to retire?

(+) Yeah! (+)

Does the work time at your previous jobs not count towards your overall retirement? That's the way I see it.
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You're mistaking retirement for pension.
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DespondentDeity posted...

You're mistaking retirement for pension.

Ok a pension. If I worked at several companies for the past 10 years and did 20 years at my current employer, would that add up to 30 years total for work service?
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Pensions arent what they used to be. Companies realized paying people half their salary to not work isnt profitable.
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Most employers don't offer pensions.

In the US, your social security is based on your 35 years of highest earnings.
If you get a pension from a private company, it is only based on years service there.
If you work for the government, you can get a pension.
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FFVII_REMAKE posted...

DespondentDeity posted...

You're mistaking retirement for pension.

Ok a pension. If I worked at several companies for the past 10 years and did 20 years at my current employer, would that add up to 30 years total for work service?

No, if you retired at a company that offered pension it would scale to a percentage of your ending salary based on the amount of time you had been with only the company offering pension. Any retirement accounts you contributed to such as an IRA or 401k may be eligible to rollover to receive contributions from any employer.

Very few companies are offering pensions anymore btw.
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Contribute to a 401k or IRA like a normal person.
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