Pensions Plans

Earlier known as defined benefit plans, pensions are the simplest and easy to manage retirement plans that require you to do almost nothing as an employee. These are funded entirely by your employer and offer a fixed benefit to you after your retirement. However, they’re slowly losing pace in the market because not many companies are offering it. According to a recent report, only 14% of companies listed in the fortune 500 offer pension plans to their new workers. Earlier, the exact figure used to be 59 per cent.