| Topic Name: |
Accenture pension plan |
| Message Name: |
There is a pension |
| Date Posted: |
01/10/2006 |
| In Reply To: |
The old pension was strictly for AP/Ptr level people. People generally quit at the consultant or junior manager level. Once you got to middle management (AP or first level Ptr), you normally would stay on for the big bucks (this was the pre-IPO days, keep in mind -- the big bucks for making Ptr no longer exists unless you make it to senior or executive management, and that's the same as it is at any large company).
Today, Accenture offers us a 401(K) plan which is generous, but people under Ptr never were offered pensions plans (at least not defined benefit plans). Anyway, most companies are switching to defined contribution plans like 401(K) plans and dropping defined benefit pension plans. There's no profit in it.
The exact words I heard at a community meeting was, "no one retires out of Andersen Cons at the manager or consultant level." What that meant was, most people don't spend a lot of time here except Partner level (remember, this was back at AC when it was a partnership |
| Message: |
There is a current pension plan, but only employees of the Enterprise and Services workforces are eligible for it. You used to become eligible for the pension plan after 2 years with the company, although I am not sure if that requirement has been removed or extended. However, all levels from Analyst and up in those workforces are eligible.
The amount of pension you receive is based on your average salary and years of service. The maximum amount of pension is currently $60,000 per year after retirement. This is in addition to the 401(k) plan and anything else you set aside (i.e. in an IRA). I started as an analyst with Accenture and left after 6 years, with an estimated pension payment of $600/month. Obviously not enough to retire on, but every little bit helps. That is, of course, assuming the pension still exists in 35 years. ;)
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