Pension Calculator
Compare lump sum vs monthly pension, single vs joint survivor, or retiring at different ages.
Pension Options
Lump Sum vs Monthly Pension
Pension Results
Compare your pension options
Enter your pension information to see your results
How to Use the Pension Calculator
- Choose Your Comparison: Select from three pension decision scenarios using the tabs
- Enter Your Information: Input your age, pension amounts, investment assumptions, and life expectancy
- Review Present Values: Compare the present value of each option to see which provides more lifetime value
- Consider Other Factors: Remember that financial value is just one factor - also consider risk tolerance and family needs
Calculation Methodology
Present Value Calculation
All pension streams are converted to present value using the formula:
PV = Σ [PMT × (1 + COLA)^(t-1)] / (1 + r)^(t-1)
Joint Survivor Calculation
Accounts for two phases: payments while both spouses are alive, then survivor benefits until the surviving spouse's death.
Work Longer Analysis
Compares present values accounting for delayed retirement and different pension amounts, discounted back to today.
Frequently Asked Questions