Should You Consider a Lump Sum Pension Payout? | Retiring Today with Loren Merkle

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ABOUT THIS VIDEO
Those on the verge of retirement face a difficult pension payout decision. Take the lump sum or the monthly payments? That question is discussed during this episode of Retiring Today!
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Loren Merkle, CERTIFIED FINANCIAL PLANNER™, RETIREMENT INCOME CERTIFIED PROFESSIONAL®, CERTIFIED FINANCIAL FIDUCIARY®
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This video does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or any other product or service by Merkle Retirement Planning LLC, Elite Retirement Planning LLC, MRP Insurance LLC, or any other third party regardless of whether such security, product or service is referenced in this episode. Furthermore, nothing in this episode is intended to provide tax, legal, or investment advice and nothing in this episode should be construed as a recommendation to buy, sell, or hold any investment or security or to engage in any investment strategy or transaction. Merkle Retirement Planning, LLC does not represent that the securities, products, or services discussed in this episode are suitable for any particular investor. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your business advisor, attorney, or tax and accounting advisor regarding your specific business, legal or tax situation.

[@jaebeablessings1005]

How do you know the value of your pension when given the option of lump sum payout? I know the monthly amount but have never been given the payout value.

[@robertwilson7736]

My pot valus is less than 40k so in the long run it's not worth much so a lump sum would be best ?

[@Sky1]

They mentioned in the video when interest rates go up lump sum goes down. I'm in the same boat. I think they will cut interest rates within the next three or four months. One thing, they didn't mention is the possibility of delaying taking it.The other thing they didn't mention is.How safe is it?What if the company goes out of business?I think they are insured to a certain amount.

[@robertwilson7736]

@@Sky1 well sir mine is a private pension plan and the long term payment would only be about £30 weekly and I need to claim housing benefit so it would be taking all that with the rent and could involve alot of hassle your opinion please