Have you all looked at your pension value this year? The lump sum is not that bad.
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Snotty annuity is foolish.
There is no COLA so you will get the same amount no matter what inflation does. You can take the lump sum and invest it yourself. And finally you will have money to pass on your heirs.
If you’re taking the annuity then you’re working for that much less each year. And of course it’s worth less due to inflation
Yep. Part of it is based on your age... If you're young then you will be fine in the long run (2023 to 2024 is down about 8%).
If you're planning to take the monthly payment, then congrats. It is basically an annuity at about 4.5% rate. Just keep in mind there is no COLA. Your purchasing power will go down YoY.
It will be back to where it was by 2026. I just lost 3 years of pension value. But I am taking the monthly payment so I did not loose anything.