---
title: Should I Take My Pension as a Lump Sum?
description: Wealthy Street Academy - Free flowcharts and checklists to help you navigate life's toughest financial planning scenarios.
---

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# Should I Take My Pension as a Lump Sum?

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Although they are becoming more rare, pension plans are still offered by many employers. Whether you are nearing retirement or are already receiving ongoing pension payments, you may have the option to choose a lump sum distribution/buyout instead of a lifetime stream of payments. Several factors must be analyzed in order to determine what course is best for your unique circumstances.

 

This flowchart helps you navigate your pension options. It covers:

 

- Life expectancy considerations
- Viability of pension plan
- Risk tolerance and need for guaranteed income
- Wealth transfer considerations
- Lifetime income options

 

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