How much does a person need to worry about a pension. In these times .....especially. Are Pensions Insured ?

Question

How much does a person need to worry about a pension. In these times .....especially. Are Pensions Insured ?

Answer 1

Most people these days don't have pensions - for the most part, only government employees, because it's based on our taxes, and private companies can't afford the pensions any more.

Pensions are sort of insured, against embezzlement (with an ERISA bond), however, if the company flat out goes bankrupt, there isn't any pension any more.

Answer 2

No sorry, pensions are not insured and can go bust like anything else.  Look at Enron, all the people that worked there lost ALL of their pension money & some were near retirement. Actually, you are lucky you even have one.  I know of no one that has one unless you are a teacher or work for the government.  Everyone I know has either a 401K or IRA.  That money is not insured either unless it is in a CD at a bank.