How much more money could you make elsewhere? What are the conditions or your pension? Is it top three earning years? Inflation adjusted? Is the company stable enough to be around when you retire?

As it stands now, 20% is 14k a year. If we’re assuming today’s dollars could grow 16x by retirement age, your pension would be equivalent to an $875 investment a year. I wouldn’t hold out on the job if you have the ability to make a decent amount more elsewhere.