Can You Roll a Pension Annuity Into a Private Annuity?
Episode notes
Are you getting ready to retire and staring at your company's pension options? Should you take their guaranteed monthly paycheck, or should you take the lump sum and buy your own private annuity? If you make the wrong choice, you could be giving up total control of your life savings!
In this video, Shawn Plummer from The Annuity Expert answers whether a company pension annuity can be rolled into a private IRA annuity. The answer completely depends on your current status! If you have not officially started your monthly benefits and your plan offers a lump-sum payout, you can absolutely roll that money into a private annuity. Shawn explains why this is almost always the better option: it takes control away from your employer, offers significantly better death benefits for your family, allows your money to earn interest, and provides massive flexibility in an emergency!
However, if you have already started receiving your pension checks, you are likely locked in. Shawn reveals the one rare phone call you can make to your pension provider (asking for a "commutation benefit") that might just be your only get-out-of-jail-free card!
📊 Stress test your pension! Calculate your private guaranteed lifetime payouts right here:
https://www.annuityexpertadvice.com/annuity-calculator-2/
📞 Want a free, unbiased comparison to see if a private annuity beats your pension? Call us for free at: 770-755-1565