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POLICYHOLDER GUIDE for PENSION CUSTOMERS  Form

POLICYHOLDER GUIDE for PENSION CUSTOMERS Form

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hey guys what's up I'm aarin and welcome back to the channel understanding pensions and their impact on retirement planning is crucial for a secure and comfortable retirement pensions can provide a guaranteed income stream which can significantly influence your financial decisions and strategies there are two primary pension types you have a defined contribution plan and a defined benefit plan a defined benefit plan is an employer sponsored retirement plan where employee benefits are compounded using a formula that considers several factors such as as length of employment and salary history this is traditionally what we think of when we think of a pension on the other hand a defined contribution plan is a retirement plan funded by employees and their employers that doesn't promise a specific amount of benefits think plans like the 401K 403b or the tsp these employer sponsored retirement plans for the focus of this video we're going to be looking at those

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