Episode 35 – How Should I Withdraw My Pension?


How you take your retirement pension can be a more consequential decision than many people realize. The debate over whether to take your pension as a lump sum or as monthly payments can be tricky. Even though pensions are becoming less common for workers today, many folks now at retirement age are making this very important decision. 

On this episode, Chad and Mike share 5 things you should keep in mind when making decisions about your retirement pension. They cover some of the key terms you should know, and point out the importance of finding what age is the breakeven point in your calculations. Inflation is also key to factor into your decision, as well as how your pension will affect your spouse.  

Finally, it’s important to remember that companies can go bankrupt – but there are ways to make sure your pension is protected. While retirement can sometimes feel overwhelming to plan for, this episode will help make it clearer what you can do with your pension.

Facts and Links Mentioned In the Show

What You’ll Learn in This Episode

  • Some of the jargon you’ll hear when in negotiations about pensions. 
  • How your life expectancy impacts the decision you’ll make about your pension.
  • The risks inflation presents to your pension payout. 
  • The unique questions married couples will have to consider in this process.
  • What you can do if the company guaranteeing your pension goes bankrupt. 

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