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Hi. I am 57 years old and have been an employee of a company for 25 years. This company has a defined benefit pension plan that I have been paying into for my duration. I am not worried about losing my job, I was just wondering if I did, could I receive a severance package and then go straight to retirement with that pension? Thank you for your time.
You could be entitled up to 24 months of severance pay if you are terminated. You should speak to your pension provider about the terms of your defined benefit pension plan in the event you are terminated.