3 ms·
In the US, a pension is traditionally considered a scheme by which you receive a lifetime stipend from a company upon retirement after working for a set number
by chadwickthebold 13y ago
In the US, a pension is traditionally considered a scheme by which you receive a lifetime stipend from a company upon retirement after working for a set number of years. A 401k is a contributory 'pension', but the word 'pension' just has a different social connotation in the US.