A pension is something companies used to provide to their employees. Employees used to be able to stay their entire career with one company and amass a pretty decent retirement pension with said company.

Then Wall Street got corrupt. They demanded ever more from companies. Each quarter had to show more profit from the last otherwise they punished the company. Wall Street found ways of funneling any profits directly to investors instead of investing in the company (and, more importantly, it's employees). Pensions took a hit. Companies stopped offering them. Some companies 'borrowed' from pensions and lost it all. The employees did suffer. Employee loyalty dropped. Companies took that as an opportunity to treat employees as temporary; replacing them regularly with cheaper ones.

You'll have to wait until tomorrow night to hear the rest of the story. G'Night.