had a job interview the other day where they mentioned that i would get a pension that was vested in 10 years if i was selected for the job
wtf does a pension being vested mean? and whats the different between a pension and something like a 401k that makes people like pensions more?
In: Economics
getting vested in 10 years means you gotta work there for a decade before you own your pension money. it’s like being in a long term relationship before you get the good stuff. pensions are sweet because they give you guaranteed income when you retire. 401k’s depend more on your investments which can be a bit risky so it’s a trade off. nice to have options tho
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