There is a fair amount of underhandedness that can happen to a pension.

First of all, a company can underfund it’s pension by not putting enough money in it, or by assuming too high a return in it’s calculations. GM has had problems like this.

Companies can also take money out of a pension plan if it is overfunded. But again, they can assume too high a return on assets, and then declare it overfunded, and take the money.

Companies can discontinue a pension by converting it to a 401k, and giving employees the money that has been vested. Or they can just discontinue it for new employees, and keep it for the older employees.

As for your last question, that is where you seem to have confused 401ks and pensions. They cannot mess with the part you pay from your own paycheck into a 401k. Some companies like Enron have forced employees to take their matching contributions in company stock. This can be bad when the company goes down the tubes like Enron, but good when the company does well like Microsoft or Intel in the 1990s.

They legally can’t keep your portion. the money the dedut from your check should go to a trust account seperate from company assets. They can keep their contribution if you are ot fully vested yet. They should have a yearly statement about your pension fund that they are required to give to you. If you have a problem youcan call the Federal Pension Guarantee Board for help

It looks like you don’t understand the difference between a pension and a 401k plan. The money for a traditional pension is provided entirely by the Company automatically without any action necessary on the employees part if the employee is entitled to pension benefits. In a 401k plan the employee puts the money in and the employer matches a set percentage of the employees base wage provided that the employee is participating in this voluntary plan.In both cases it would not be legal for the employer to decide to keep the money with the exception of when an employee does not work at a company long enough to become vested in the traditional pension plan (usually a period of 5 years) before quitting or getting fired.If an employee left before being vested in a 401k plan the employer would keep the matching funds but the employee would get all the money and earned interest that had been contributed by the employee.My impression is that you are a young person and you or someone that you know has left a job without being there for more than 5 years and that because you are young you are into the modern I have rights and you have responsibilities philosophy.

A pension is paid for by the company (not from you) and yes if the company goes bankrupt there is a chance that your pension will be lost. But the feds usually step in and partially fund it for you. Excuse me, what I meant to say was the TAXPAYERS, like me, who can’t afford a pension get to pay for it.

If you are speaking of a 401(k) type fund, that money is yours and protected, you should receive statements from a third party (not related to the company you work for) and if your employer goes out of business the money is still yours.

Thousands of Americans are losing their jobs because the corporate model of paying employees for the rest of their lives is bankrupting this country. This is one of the main reasons companies are closing plants here and transfering the jobs to China and India.

And if not stopped our tax rates will have to double to pay for the government pensions that have been promised. Our children will have a hard time feeding their children and paying their taxes if we do not get smart and fix this fast.

For proof just look to the auto companies and every other company that has closed down American plants to move the jobs elsewhere.

What country are you talking about here? In the U.S., no company is REQUIRED to provide you with a pension. The only requirement is Social Security, which even if they went bankrupt would still be there.

If you had a qualified pension plan, the money is presumably invested with an insurance company or some other qualified pension fund. If they were deducting money and holding it in some account somewhere that they were overseeing, then the money probably went with the bankruptcy.

If you are talking about England or Canada or some other country, I do not know what they do there as far as old age pensions or retirement.

when you company is a rip off scam artist, that’s how they keep your money. i would rob them blind if they did that to me.