Retirement means different things to different people, whether it is more time to spend with family, a chance to travel or an opportunity to finally take a rest. With all these differences, what unifies us is a hope for a decent retirement. This means having a steady, reliable monthly income when you no longer work.
Social Security, pensions and personal savings are the three major pieces of financial security during retirement.
Social Security is an earned government benefit for seniors, people with disabilities and children who have lost a working parent. Working people contribute to Social Security with every paycheck.
A pension is income you set aside while you’re working so you will be able to get a monthly paycheck when you retire.
As many as half of all workers are in jeopardy of retiring in poverty. Big corporations have slashed pensions and other retirement benefits just to pad their own bottom lines. Most low-wage workers have no retirement at all, relying solely on Social Security. Unions fight tooth and nail to protect pensions, Social Security and Medicare so older Americans can rely on these lifesaving programs and retire with dignity.