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Should I Take The Lump Sum Pension Option Or Lifetime Payments?

Choosing pension options is an important decision you have to make after you retire. Whether you go for the lumpsum amount or the annuity option, it depends on your circumstances. However, here are some factors that can help you decide which option to choose:

Lump-Sum Lifetime Payments
You get the complete sum altogether You get monthly income option after retirement
Asset Management becomes a hassle after retirement You can enjoy retirement without having to worry about finances and asset management
Financial conditions can get unstable if not managed properly Financial situation remains stable
Helpful if you have an emergency Problematic under unexpected significant expenses or emergency
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