In the old pension scheme (OPS), a government employee gets an assured pension, but if they want, they can commute their ...

It’s a common dilemma for pensioners and lucky lotto winners: take the cash today or be drip-fed a smaller amount of cash for ...

Some pension plans offer a hybrid option ... To get a sense of potential annuity payments based on your lump sum, use an annuity calculator. Keep in mind that these calculations are estimates ...

It's a common lament that old-fashioned defined-benefit pensions—the kind that pay a guaranteed monthly income for life—are rare nowadays. And for public-sector employees, they might become ...

which is the life expectancy Social Security’s calculator assigns to a 65-year-old male. In this situation, the monthly pension benefits total $208,620, slightly more than the $200,000 lump sum.

Pensions provide additional income that can help you in retirement, but most of these plans force retirees to make a big choice: receive a lump sum right now or monthly payouts for the rest of ...