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
After 10 years of service you get full benefits you are entitled to (based on pension rules) even if you retire/resign at 10 years 1 day
If you leave the company in year 8 you might get like 30% benefits or something….but every employer is going to handle it differently
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