The article discusses the dilemma faced by a 65-year-old worker eligible for a pension on whether to take it now or wait. Immediate access to funds has its appeal; however, delaying the pension could yield larger monthly payments. Similar to Social Security, the consideration involves assessing personal lifespan and current financial needs. The article suggests pondering key questions to navigate this decision, highlighting the nuances of retirement planning when it comes to pension benefits.
The decision between taking a pension now or waiting is tough; early access provides immediate funds, while delaying increases long-term monthly payments.
Before deciding on claiming a pension, consider your life expectancy and how you could utilize the money now versus future financial security.
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