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lancelotarnold

Comparing Lifetime Payments and Lump Sum

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Comparing Lifetime Payments and Lump Sum

Is my pension guaranteed?
Payments
Yes, on a regular basis through the end of your life.
Lump Sump
Yes, only once.
Is my pension protected from inflation?
Payments
Maybe. If your pension payments factor in cost-of-living adjustments, then yes. If your pension payments are fixed, then no
Lump Sum
Possibly, if invested in a conservative stock portfolio that grows over time to accommodate increased cost-of-living.
Is my pension protected from stock market changes?
Payments
Yes
Lump Sum
No
Do I invest the pension?
Payments
No, the employer or insurance agency does this.
Lump Sum
Yes, if you choose to.
Can my spouse or children inherit my pension?
Payments
Yes, if you have a “joint and survivor” pension annuity.
Lump Sum
Yes, if your beneficiary makes a claim with your employer to receive the benefits.

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