This paper leverages an original linkage between data from the Pension Plans in Canada (PPIC)—a census of all employer pension plans in Canada—and tax data on employers and employees from the Canadian Employer-Employee Dynamic Database (CEEDD) to examine three interrelated questions. First, how have pension plans and coverage evolved between 2001 and 2020? Second, how much do workers value jobs with pension plans? Third, how do these pensions impact employee mobility? The analysis also explores how these effects vary depending on the characteristics of the pension plan, such as defined benefit versus defined contribution plans, profit-sharing arrangements, and other structural differences. It finds that workers in the private sector are willing to accept, on average, a 6.3% reduction in earnings to hold a job with a pension plan and that pension coverage significantly reduces worker mobility. The findings highlight the importance of pension plan design in shaping both compensation preferences and labor market dynamics.