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Should You Take Your Pension as a Lump Sum?



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Are you getting ready to retire and deciding what to do with your pension? Making the wrong decision can be costly, especially considering that, most likely, you won’t be able to change it. Plus, the impact of these decisions is usually 20 years or longer. Many of our clients nowadays are taking the lump sum option. Let’s talk you through the pros and cons of doing so to see what can make the most sense for you.

Note that all pensions are unique, so it’s important to examine the numbers in detail to determine which option is best. With our clients, we might run multiple scenarios to truly understand their situations and goals before we make decisions. As you will see, two people with the same pension options may choose different option depending on their situation.