Seems like every week you hear of all these corporations scamming people out of their retirement pensions. Use this thread to expose the pension scams:

According to Wikipedia:
A pension is a contract for a fixed sum to be paid regularly to a person, typically following retirement from service.[1] There are many different types of pensions, including defined benefit plans, defined contribution plans, as well as several others.[2] Pensions should not be confused with severance pay; the former is paid in regular installments, while the latter is paid in one lump sum.
The crisis is a combination of these three factors:

— Countries are slashing retirement benefits and raising the age to start collecting them. These countries are awash in debt after overspending last decade and racking up enormous deficits since the recession. Now, they face a demographics disaster as retirees live longer and falling birth rates mean there will be fewer workers to support them.

— Companies have eliminated traditional pension plans that cost employees nothing and guaranteed them a monthly check in retirement.

— Individuals spent freely and failed to save before the recession, and they saw much of their wealth disappear once it hit.

Those factors have been documented individually. What is less appreciated is their combined ferocity and their global scope.

"Most countries are not ready to meet what is sure to be one of the defining challenges of the 21st century," the Center for Strategic and International Studies, a Washington think tank, concluded in a report this fall.

"People are going to be shocked at how little they have," says Alicia Munnell, director of Boston College's Center for Retirement Research. "For some middle-income people, it will mean canceling the RV" — the recreational vehicle that has become a symbol of retiree life in America. For those worse off, she says, it could mean an old age in poverty. Source