Yep -- pensions are optional. Unless you're independently wealthy, though, I'd suggest you do some sort of saving for your future as the state pensions over here are really quite low and are in the same trouble as the US social security system. I contribute 6% of my gross monthly pay and my employer contributes 12%.
Travel passes -- depends on where you work, but I can buy a year-long bus or metro pass at a discounted rate. For ten months out of the year, they take £37 out of my cheque to cover the cost.