If you are planning for retirement, you might be confused by the terms "pension" and "annuity." While they both provide a contractually guaranteed paycheck for life, how they are funded—and who controls the money—makes all the difference!

In this video, Shawn Plummer from The Annuity Expert breaks down the core difference: A pension is funded and controlled by your employer, while an annuity is a "personal pension" funded and controlled by you.

Shawn explains the critical decision every pension owner faces at retirement: taking the irrevocable "monthly benefit" versus taking a lump-sum payout. You will learn why rolling a lump sum into a personal IRA Annuity with a Guaranteed Lifetime Withdrawal Benefit (GLWB) often gives you the exact same lifetime income, but allows you to keep total control of your cash! Shawn also shares a real-li ...