freedom2022
Recycles dryer sheets
- Joined
- Sep 24, 2021
- Messages
- 133
Hi all,
I have a defined benefit plan with the company I work for.
Some define benefit plan allow a lump sum transfer to a registered pension plan of your choice.
I read that the commutated value of define benefit plan is more when the interest rate is low. Is it true?
If so, I’d rather choose the lump sum transfer than a monthly pension.
P.S. I haven’t submitted a formal request for early retirement.
I have asked the pension plan administrator about commutated value. But they are not open to respond about it. The pension plan only explains about monthly pension income after retirement. And I heard from colleague who left company that he opted a lump sum transfer.
Thanks in advance.
I have a defined benefit plan with the company I work for.
Some define benefit plan allow a lump sum transfer to a registered pension plan of your choice.
I read that the commutated value of define benefit plan is more when the interest rate is low. Is it true?
If so, I’d rather choose the lump sum transfer than a monthly pension.
P.S. I haven’t submitted a formal request for early retirement.
I have asked the pension plan administrator about commutated value. But they are not open to respond about it. The pension plan only explains about monthly pension income after retirement. And I heard from colleague who left company that he opted a lump sum transfer.
Thanks in advance.