Being a member of a public sector defined benefit pension plan, especially over an entire working career, allows a person to have a great deal of financial security. However, they are rigid and may not match the cash flow needs of pensioners as unforeseen post-retirement events transpire including: retirement debt, a lost spouse or financial emergencies.
Regrettably, few people are aware that these pensions can be turned into large lumps sums of capital that provide pensioners with more flexibility. Oftentimes, a career civil servant’s pension can easily exceed a value of $1,000,000, making it the most valuable asset for many.
Our pension advisors have helped many civil servants take advantage of this opportunity. Read the case studies below to see how good planning can change your thinking about when and how your retirement will look.