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

[@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