The true and main reward is in The World To Come, the hereafter. The everlasting recompense of the worthy individual is a bond of closeness with G-d forever. The punishment is being thrust away from this True Good and perishing.
Judgement was set up, though, to be according to the majority of deeds. Good deeds of people who are mostly evil, and vice versa, are dealt with in this world through gratifications, and sufferings. In this world, we find wicked rewarded with prosperity for their few virtues, while the righteous are punished with suffering for their faults.
This causes the judgement of everyone to be perfect. The Future World likewise remains suitable for its intended perfect state. It is inhabited only by the righteous, and the wicked are totally absent. Those who inhabit the Future World are furthermore free of any obstacle within themselves [i.e. through the growth they received through suffering - webmaster's] that might restrict the delight intended for them. The wicked on the other hand are cast aside and annihilated, but they have no cause to complain - they've been rewarded already. - Taken from Luzzato Derech Hashem - The Way of G-d pg 97-99 Feldheim