An employer may offer a pension plan if it is in a financial position to do so. Some employers offer a pension plan to help attract new employees and retain its existing workforce. Employers invest in their employees in many ways and offering a pension plan is one way to ensure financial well-being.
Pension plans are designed solely to provide retirement income, so you can only receive income (or make withdrawals) from these plans during retirement, typically from age 55 onward. If your employer offers an pension plan. You can learn more about pensions by visiting our Pension & Savings plans hub.
Speak with a registered financial representative for personalized financial advice.