what is the average pension amount
Median Pension Benefit. In 2015, one out of three older adults received income from private company or union pension plans, federal, state, or local government pension plans, or Railroad Retirement, military or veterans pensions. The median private pension benefit of individuals age 65 and older was $9,376 a year. The median state or local government pension benefit was $16,742 a year. Table 10. Median benefit for persons age 65 and older with income from private pensions and annuities, public pensions, and veterans benefits.