Both Y and I are very fortunate in that we both have pensions. He works for the public sector but I do not. I also have a 401k with a 5% match. Y has a 457 plan without a match (a 457 is basically a 401k for for the public sector).
The formula for my pension is an average of the last 5 years of service and you take 1% of that times years spent working for the company. For example, if my average for my five last years is $100,000. It would be 1% of that or $1000 times years of service--lets say 30 years. I would get $30,000 per year indefinitely for my pension.
I love my company and definitely plan to stay with them. Many people retire with over 30 years of service. If I ever need a change in jobs, there is plenty of room to change within my company.
Do you have a pension?