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In exchange for making a lump sum payment or a series of payments (known as premiums), you receive regular payments over a specified period or for the rest of your life, depending on the type of ...
As an alternative, some couples find creative solutions by taking a lump sum from one spouse’s pension and opting for monthly payments from the other. 3. Income needs.
The first trap that many workers fall into when they're handed a lump-sum pension payout is to treat it like ordinary savings. That can be the most costly mistake you'll ever make. Sponsored Links
A pension buyout (alternatively buy-out) is a type of financial transfer whereby a pension fund sponsor (such as a large company) pays a fixed amount in order to free itself of any liabilities (and assets) relating to that fund. The other party, usually an insurer, receives the payment but takes on responsibility for meeting those liabilities.
Retirement plans are classified as either defined benefit plans or defined contribution plans, depending on how benefits are determined.. In a defined benefit (or pension) plan, benefits are calculated using a fixed formula that typically factors in final pay and service with an employer, and payments are made from a trust fund specifically dedicated to the plan.
State Super is the Trustee of the following defined benefit schemes: State Authorities Superannuation Scheme (SASS), State Superannuation Scheme (SSS), and Police Superannuation Scheme (PSS). State Super also manages the State Authorities Non-contributory Superannuation Scheme (SANCS), which provides additional benefits to members of SASS, SSS ...
The Fools help a listener decide if he should take the money and run -- to his own investment accounts -- or stand pat and keep his guarantee of lifetime income.
A pay-as-you-go pension plan (also called a "pre-funded pension plan") is a retirement scheme in which a contributor can either have a regular contribution deducted from each paycheck or make a lump-sum contribution to a retirement fund. [1] With such a plan, the contributor decides how much to contribute to the fund and chooses how it is invested.