The parent is referring to a pension plan, which is generally guaranteed income for life after a certain amount of service. If you leave or are fired prior to the service requirement, you could lose all or part of the pension. Just want to note in the US these are usually offered to public sector workers - e.g. teachers, firemen, police, military, civil servants. I don't know of a private company that still offers pensions.

Separately we have retirement savings programs (usually called a 401k) that are offered by private sector employers, often with a match. Employees can invest a percentage of their paycheck in the program, and companies will match that contribution to a certain level to incentivize savings. When you leave the company you can keep the account or roll it somewhere else. Unfortunately these contributions are capped by federal law at no more than $19,500 per year per person. There are tax benefits to the 401k - you can choose to pay tax on the contribution when you make it and pay no income tax on those funds in retirement, or not pay tax now and pay income tax in the future. This is a lot better than investing in a taxable brokerage account, because you get taxed on the income as well as the securities.