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
a pension being vested in 10 years means you gotta work there for 10 years to actually get it if you leave before then you kinda lose it. pensions are like golden handcuffs you gotta stick around to get the gold. 401k’s are more flexible but pensions usually have more stable payouts. for long-term chillin pensions can be sweet like that
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