Should I Take My Pension Early?

Compare the benefits of early vs. delayed pension payments.

  • Methods explained
  • Save scenarios
  • Compare saved scenarios

Pension Options

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Early vs Normal Comparison

Early Monthly Benefit$1,740
Reduction Percent42.0%
Early Retirement Lifetime Value$772,560
Normal Retirement Lifetime Value$1,080,000
Break-even Age74.667

Recommendation

Waiting for the full pension may be better

How it works›

Model and assumptions. The linear early-retirement reduction is capped at 100%, so benefits cannot become negative. Estimates pension income from the entered compensation, service, accrual and reduction or survivor assumptions. Plan formulas and early-retirement factors vary. The estimate does not guarantee a benefit or price an insurer’s contract.IRS Publication 575