Can You Roll a Pension Annuity Into a Private Annuity?
Retire For Less With The Annuity Expert by Shawn Plummer
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 fΒ ...Β