Would You Stay with Merck for the Pension?

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SP person here - what is the pension like, assuming I have a job?

As for calling BS on the guy with $1m - if it's anything like other companies I've worked for, they let you invest pension dollars in funds just like a 401(k). The last year withstanding, there was a nice little ride over the last 28 years.
 






Anonymous said:
SP person here - what is the pension like, assuming I have a job?

As for calling BS on the guy with $1m - if it's anything like other companies I've worked for, they let you invest pension dollars in funds just like a 401(k). The last year withstanding, there was a nice little ride over the last 28 years.
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What are your talking about, guy?
 












Anonymous said:
Seriously considering leaving but understand the pension benefit is hard to beat- if it is still around when I retire- assuming I don't get laid off between now and 65.

Should I stay for the Pension benefit alaone?
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If you are over 50 and have one from her already or from elsewhere I would not stay.
Your already of one -- there's no big benefit for you. Going elsewhere may be a more profitable choice.

If you're over 50 and certainly 55 or over and if you don't have one from anywhere I would say yes, stay -- time is not on your side to go somewhere else at this point in your life. Hang in there if you can, and try to get promotions and move up. The HtoR will hopefully assist some people.
 






No wonder Big Phar,a sucks. We all pay higher drug $s because these behemoths have to support such outdated compensation schemes for incompetents and slackers piggy backing. The costs are high because of this (remember Big Three from Detroit?) but they claim they spend a lot on research and hence have to charge for the drugs. No wonder the US healthcare system is so horrible. I wonder how many people such as these are screaming hoarse in the streets on behalf of the Tea Party.
 






Anonymous said:
Lets see thats 14 years @32K yearly input. are you talking about your 401 with growth or the amount from only company pension? Curious, what income level were you?
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Big job, big salary needed to do what you say. Takes a lot of luck for many of us to put in enough to make the match. Would take 10 years to get to your 1 year buddy.
 












Is it interesting that legacy SP people have no clue when and or if they will harmonize SP pension into Merck pension program. Does anyone have info when or if this will happen. Wonder if any tie end with possible more layoffs??
 






























The Rule of 85 no longer applies. It was phased out in stages a few years. Folks who were
at least 40 years of age with 10 years of service were grandfathered at the time. Most of those who qualified have retired but there may still be some folks in their 60s who haven't
yet retired.
 






Anonymous said:
The Rule of 85 no longer applies. It was phased out in stages a few years. Folks who were
at least 40 years of age with 10 years of service were grandfathered at the time. Most of those who qualified have retired but there may still be some folks in their 60s who haven't
yet retired.
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Any replacement for those 40-60 facing future layoffs?
 
























Anonymous said:
Try again, 6 is the correct answer. With every year of service they will also age a year. Although, with this company/industry, a year may feel more like 5....
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Thank you for explaining....yes, you are right--a year at Merck feels like 5, for sure! Can't wait to be out of here....30 months, and counting daily (unless I'm let go sooner).
 






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