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Retirement plans, yes. Pension plans, no.

• chrisseaton 9y ago
  But a retirement plan is a pension. Maybe it's a British English / American English thing, but to me a pension is any savings or investment you keep for retirement.
  • cm2012 9y ago
    Most people seem to refer to pension in the U.S. as a private company's social security set-up - you get a set amount per month for the rest of your life after a term of working at the company.
    • wavefunction 9y ago
      Pensions in the popular sense are more properly named "defined benefits plan" in financial jargonese.
  • kasey_junk 9y ago
    Its a difference between "general" use and "technical" use. Usually when us normal people in the States talk about a pension we mean a defined benefit retirement plan sponsored by your employer. But in the legal/literature use it means any savings you keep for retirement. The defined benefit plan is basically gone from the private sector in the USA and is only existent in the public sector.
  • deleted 9y ago
    [deleted]