Should You Take a Pension Lump Sum or Lifetime Income?

Should you take your pension as a lump sum or opt for a lifetime income stream? This decision impacts your taxes, longevity risk, estate planning, and long-term financial stability.

In this video, we break down the key considerations—from actuarial assumptions and inflation protection to risk tolerance, spousal benefits, and tax strategies. Whether you’re planning around your health, your heirs, or your lifestyle goals, this guide will help you make an informed choice.

This content was provided by Retirement Planning Services. We are located in Knoxville, TN. You can learn more about us, or schedule an insight call by visiting our website at https://www.seriousretirement.com.

Timestamps:

00:00 – Intro: The Weight of Pension Decisions
00:31 – Common Pension Options: Lump Sum vs. Monthly Payments
01:10 – Calculating the True Value of Your Pension
02:39 – Understanding Risk: Company Health & PBGC Coverage
04:13 – How Health & Longevity Affect the Right Choice
06:08 – The Joint & Survivor Benefit Explained
08:24 – How Pension Fits Into Your Broader Financial Plan
10:16 – Accounting for Inflation: COLA Benefits
11:22 – Why Risk Tolerance Matters in Pension Planning
12:27 – Lump Sum Tax Implications & Rollovers
14:40 – Estate Planning: Leaving a Legacy or Gifting Early
17:56 – Final Thoughts: Make the Right One-Time Choice

Advisory services offered through Retirement Planning Services, LLC.

The information in this recording is intended for general educational and informational purposes only, and should not be construed as investment advisory, financial planning, legal, tax, or other professional advice based on your specific situation. Please consult with your professional advisor(s) before taking any action based on its contents.