Pension: Lump Sum or Monthly?
One of the biggest one-time decisions you may face.
If your employer offers a pension, you may have a choice: take a lump sum or receive monthly payments for life. Monthly payments provide predictable income, similar to a personal annuity. A lump sum gives you control and flexibility, but puts the investment risk on you. Factors to consider: your health and life expectancy, your comfort with investing, whether you have a spouse who needs survivor benefits, and your other income sources. There is no universal right answer.
From Grace
The pension decision is one you cannot undo. Let me help you think through the factors that matter most in your situation.