Service pension

Discussion in 'UPS Retirement Topics' started by upsman north georgia, Mar 6, 2015.

  1. To qualify every year for the service pension is it 40 weeks or 1801 hours? I came out of central states with the buy out in 2008.
  2. mreed171

    mreed171 Member

    1800 for service credit and 156 reports for vacation.
  3. Mugarolla

    Mugarolla Light 'em up!

    There are 2 types of pension. The regular defined benefit pension and the service pension.

    You need 1801 hours for the defined.

    You need 40 weeks for the service pension. Work 1 hour in the week and you get credit for the whole week.

    The big difference between the regular pension and the service pension is that there is no cap on the service pension. There is a 35 year cap, $3700 per month on the regular pension.

    Working longer will not increase your pension.

    Work 40 years and you only get $3700. Under the service pension, work 40 years you could get around $4300.
  4. GameCockFan

    GameCockFan Member

    This. ^^^ Go to and use the retirement calculator. It will give you an estimate(just went there and it's new calculator. don't like it as good as the old one.)
    If I work 40 years full-time driving I can get $6,137.62/month. I'll probably go earlier 59-60.
  5. asphaltcowboy

    asphaltcowboy Active Member

    This may sound stupid but I'm only 7 years in 25 yo and don't know much about the pension is that something we have to sign up for like 401k? Do we get service and defined together?
  6. upschuck

    upschuck Well-Known Member

    No, whichever is more
  7. Jones

    Jones fILE A GRIEVE! Staff Member

  8. Mugarolla

    Mugarolla Light 'em up!

    1. Not for UPS. They basically got an exemption from Congress.

    2. Even if there were cuts, UPS has to cover the cuts.

    3. I feel for the retirees of other companies that could lose half their pension.
  9. reydluap

    reydluap Active Member

    With all due respect. At this moment in time, under this particular contract, what you stated is true. But what's to say the active voting employees of UPS that voted "YES" for this contract, not just be enticed to change it. Just look at how the current retirees were taken care of. A $1000 bonus and another optional day could persuade most of the workers to let a pension guarantee be changed. No way will UPS want to keep the high cost of guaranteed pension payments if they have to cover the "extra" expense of a failing Union plan.

    When someone retires, they soon become yesterdays news, out of sight, out of mind. The young drivers I talk to don't think there will be a pension for them anyhow, so I just can't see them caring about the pension agreement that we have in place right now. Like it or not, a change is coming.
  10. rod

    rod retired and happy

    True'er words were never spoke----just remember that your turn is coming and nobody will give a crap about you either.
  11. UPSmechanicinblue

    UPSmechanicinblue Active Member

    I argued this with others when we pulled out of Central states-I felt we would be giving retired members a slap in the face when they where the ones who got the Union benifits going for us before we where even around. Now I tell the ones that are retiring now they better hope future ones keep this (2. Even if there were cuts, UPS has to cover the cuts.) negotiated in all future contracts and hope they don't do what we did.
  12. The Milkman

    The Milkman Active Member

    So True....Yep I do feel like that I am retired.......all of us retirees are History
  13. calcio56

    calcio56 Active Member

    How do you get to that retirement calculator on upsers?