Pensions are an assurance of income after retirement. In general, it is employers that offer pension plans. These plans differ from severance packages which are given to employees when they are laid off, or they retire.
Individuals are aware of their pension plan when they begin employment. In fact, the details of the pension plan will be listed in the employee contract.
Any individual that has the ability to have a pension plan should take advantage of it. However, there are certain types of employers that are more likely to offer pension plans those others.
For example, government jobs often include pension plans, Pensions are also granted to those in the educational field, as well as those that have union jobs. Pension plans are a great way for individuals to be assured that they have a known income after retirement.