Enrolling in a pension seems like a gamble for so many reasons, when investing for retirement is never supposed to be a gamble. My employer merged into a different company starting on January 1, and instead of offering any sort of reasonable 401K match (capped at $1,000 annually, when I was getting 6% previously) this new company has a pension plan. It has me looking for a new job. Basically no one in the private sector has a pension anymore and I managed to get stuck with one of those few employers.