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they aren't. private pensions like this are rare and generally pay a few hundred dollars a month [1] while social security, run by the government, pays much mor
by peterhunt 7y ago
they aren't. private pensions like this are rare and generally pay a few hundred dollars a month [1] while social security, run by the government, pays much more [2] and is what most people exclusively rely on.
1. http://www.pensionrights.org/publications/statistic/income-pensions http://www.pensionrights.org/publications/statistic/income-p...
2. https://www.cbpp.org/research/social-security/social-security-benefits-are-modest https://www.cbpp.org/research/social-security/social-securit...
- ghaff 7y agoUnless I'm misunderstanding you, that first link shows that, for people who get pensions, the pension is in the same ballpark as Social Security. (Private pensions tend to be on the lower side but they're still close to $1,000 month which is about 2/3 of the Social Security payment in that table.)