Calculators › Retirement & annuities

Pension vs lump sum calculator

Employers often offer a lump sum instead of a pension, and the only fair comparison discounts the pension payments back to today.

This ignores survivor benefits, inflation adjustments and the security of the payer, all of which matter.

This is an educational tool, not a quote or advice. It uses general formulas and the figures you enter. Policy terms, state rules and insurer practice vary, so check anything important with a licensed agent.