For a lot of Verizon employees planning on retiring, one of the biggest decisions they can make is either going with a pension lump sum or an annuity.

This video covers the pros and cons for Pension Annuity to help people in this situation reach a decision that ultimately works best for them.

Got any questions? Feel free to reach out to us and we will be happy to help you – …(read more)

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Should I take the Verizon Pension Annuity?

If you are an employee of Verizon and have reached retirement age, you may be considering whether to take the Verizon Pension Annuity as part of your retirement planning. Here are some factors to consider when making this decision.

First and foremost, it is important to understand what a pension annuity is. A pension annuity is a steady stream of income that is paid out to you on a regular basis after you retire. In the case of Verizon, the pension annuity is based on a formula that takes into account your years of service and your average salary.

One of the main benefits of taking a pension annuity from Verizon is the security of a guaranteed income for the rest of your life. This can provide peace of mind knowing that you will have a steady source of income to cover your living expenses in retirement.

Another advantage of the Verizon Pension Annuity is that it is typically inflation-adjusted, meaning that your payments will increase each year to keep up with the rising cost of living. This can help ensure that your purchasing power remains stable over time.

On the other hand, one drawback of taking a pension annuity is that you may have limited control over your funds once they are converted into an annuity. You will no longer have access to a lump sum of money that you can use for large expenses or investments.

Additionally, it is important to consider the overall financial health of Verizon as a company when deciding whether to take the pension annuity. If the company were to face financial difficulties in the future, it could potentially impact the stability of your annuity payments.

Ultimately, the decision of whether to take the Verizon Pension Annuity will depend on your individual financial situation and retirement goals. It may be beneficial to consult with a financial advisor to help you weigh the pros and cons and determine if the pension annuity is the right choice for you.

In conclusion, the Verizon Pension Annuity can be a valuable source of guaranteed income in retirement, but it is important to carefully consider all aspects of the annuity before making a decision. By weighing the benefits and drawbacks and seeking professional guidance, you can make an informed choice that aligns with your financial objectives.