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Originally Posted by Izzle
This is, without doubt, the biggest source of my dilemma. The pension is wonderful and I can pretty much tie up my retirement years in a neat little bow if I work the current job till retirement.
But with the new job, if even 60% of the things the CFO said during the interview comes to pass, I'd be retiring earlier. And I would enjoy doing the new job more until my retirement.
Does CP have an actuary whose brain I could pick?? :S
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Always consider that a sell job. I worked for a company that made similar promises and was going to let me retire at 45. Then the dotcom crash hit and me an 10,000 fiends were all out of work overnight. The story is long and ugly, but one I learned some good lessons from. Count on what is proven. The only guarantee they can provide you is the general benefits package they provide. Stock options and bonuses are black boxes and should not be counted on in your planning IMO. I count 401K/RRSP match programs in there as well as you assume all the risk and they can pull the rug out from under you during hard times and stop contributions (speaking from experience). The choice between a 401K/RRSP match is a no brainer. Pensions are much safer because they are usually collectively bargained for and usually protected, so they are a much more guaranteed thing.
You have a tough decision. I know which way I would go because I've been screwed over a couple times by big promises. I learned to go with the sure thing and don't get caught taking that bird in the hand for granted. Remember, the grass on the other side of the fence may appear greener, but it may also be astro turf. Don't piss away a good situation on promises of things that may never materialize. Only take what is guaranteed.