#pension

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For weeks, Conservative Leader Pierre Poilievre has been accusing NDP Leader Jagmeet Singh of supporting the government until February so he can become eligible for his MP pension. But experts estimate the size of Poilievre's own pension at more than three times that of Singh's pension. A calculation of Poilievre's House of Commons pension indicates that he could draw more than $230,000 annually once he turns 65. That figure could grow considerably if Poilievre becomes prime minister following the next federal election. If Singh qualifies for his pension, he could draw more than $66,000 annually starting at age 65, the same estimates suggest.

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How do I figure out which option is best for me? Any advice?

When your employer gives you an option like this, they SHOULD also give you some guidance. So make sure to ask your HR representative at work if they have any details or paperwork that will educate you on the two options.

All that said... I'd personally pick the pension. The 401(k) was invented as a pension alternative that would be more favorable to employers. There's more nuance than that, and depending on your personal situation you might prefer the 401(k) (or similar), so I still recommend more research. But here are our thoughts on the matter:

Season 4, Episode 5: “401(k)s Aren’t Offered in My Industry. How Do I Save for Retirement if My Employer Won’t Help?”

Procrastinating on Opening a Retirement Account? Here's 3 Ways That'll Fuck You Over.

Marjorie Taylor Greene's abrupt decision to resign from Congress is drawing scrutiny after it emerged that her chosen departure date falls just two days after her federal pension becomes fully vested.

She was elected in 2020 and began serving on January 3, 2021.

The detail has prompted criticism from Democrats, including Rep. Alexandria Ocasio-Cortez, who argued Greene's exit was scheduled to secure personal financial gain.

'She's carefully timing her departure just 1-2 days after her pension kicks in and after making millions of dollars insider trading stocks for weapons manufacturers and others while in office.' Ocasio-Cortez said.

'She is saying a lot but her action have not backed up the rhetoric. For all her talk, she's still voting with them to gut healthcare and advance self-dealing corruption schemes.'

Greene, announcing her resignation in a video on Friday night, said she had been 'despised in Washington DC,' and cited a contentious breakup with Donald Trump, who recently called her a 'traitor', as a key factor in her decision to step down.