When can I access my pension money? Do I have to do anything to manage my pension? What if Can i invest pension in property leave my company before I retire?
Can I take out a loan from my pension plan? Should I take a lump-sum payout or monthly payments? What are the advantages of taking a lump sum? Should I invest my lump-sum payout in an annuity? What’s the difference between a single-life annuity and a joint-and-survivor annuity? Will I pay tax on my pension payouts?
How should my pension affect my retirement planning? Will having a public-sector pension affect my Social Security? Not until you reach retirement age. Typically that’s 65, though many pension plans allow you to start collecting early retirement benefits as early as age 55. If you decide to start receiving benefits before you reach full retirement age, the size of your monthly payout will be less than it would have been if you’d waited. Ask the folks who run your plan to create a simple table showing you how your payments will vary depending on when you start. NEXT: Can I take out a loan from my pension plan?