I am confused about my pension information...?

Question

..I have two options....option #1...You are entitled to a deferred pension of $493.82 per month ,payable from january o1,2035 for your life time.

or option#2...You are entitled to a locked in amount of $21,988.50 representing the commuted value of your deferred pension.

You may elect to have your locked in amount paid as either

2a:A transfer to a locked in Retirement account 2,3 or

2b:A transfer to your new employers registered pension plan,2,3,or

2c:A transfer to a life insurance company for the purchase of a pension (4)

..I find all of this a little confusing,and i am puzzled as to what option i should select???

I am thinking the option one of the $493.82 per month may be best??

maybe someone out here could help clarify this for me and tell me which would be best.

Thanks

Answer 1

The person who can give you advice with the fewest conflicts of interest is a fee-only financial planner.  This means they do not get compensated for the transaction, only their advice.  

If you tell a broker these options, their is a conflict of interest if they tell you to take the lump sum and invest it.  Of course it's free.

Answer 2

Visit for your answer

http://www.shvoong.com/social-sciences/1...

Answer 3

Ask a financial advisor, like at Price Waterhouse or some large wealth management company, if they hear your interested in wealth management-they will explain everything, FREE.