Originally Posted by Tan
"Hmm and which pilots have a pension...'
WestJet does not have a Pension Plan offered to it's employees.
What WestJet does do is offer to match, up to 20% of your salary, your contribution to the Employee Share Purchase Plan. Some of the people here participate in the plan and when the shares vest in a year's time, they sell their position and diversify their holding's with some financial advice.
What I like is that you can be as aggressive or as cautious as you like. Some hold the shares in an RRSP and use that as their nest-egg for retirement. Some sell the portion that the company matches and let the other half ride. Some sell it all and let a Professional at Fidelity or other fund house manage their portfolio inside an RRSP.
It allows one to be as Risk Tolerant or Risk Adverse as one likes. I had worked at a place where 5% of my salary was deducted for a pension and was matched with the Company putting in 5%. I'm quite happy with WestJet matching my 20%. Or less as the case may be, you can decide what percentage you contribute...
With Pension's in the 'States being attacked at Delta, United and NorthWest I don't find being without a "Company Pension" a bad thing... I have some control over where and what my retirement funds are doing...
Cheers.