Your retirement benefits will be paid by the PBGC based upon priority categories. You will receive a PC-3 or PC-4 benefit. There are no lump sum benefit options available from the PBGC, only a selection of retirement annuity options.

United Airlines pilots do not receive a traditional "Defined Benefit" pension plan, as these were largely phased out following the airline's bankruptcy in the early 2000s. Instead, in 2026, they utilize a robust Market-Based Cash Balance Plan (CBP) and a Retirement Account Plan (PRAP). Under the current contract, United contributes a significant 18% of the pilot's compensation into these retirement vehicles. The PRAP functions like a 401(k), where the company contribution is deposited regardless of whether the pilot makes their own contribution. For high-earning captains whose 18% contribution exceeds the annual IRS limits (which is common given 2026 salary scales), the excess "spills over" into the Cash Balance Plan or a Retiree Health Account (RHA). This system allows pilots to accumulate millions of dollars in a portable, tax-advantaged nest egg that they control upon retirement. While it lacks the "guaranteed monthly check for life" of a traditional pension, the high contribution rate and the ability to invest the funds in the market provide a level of retirement security that is among the best in the global aviation industry.