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Should you claim your pension early or wait? (www.mpg.de)

submitted 4 days ago by [email protected] to c/[email protected]

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In the U.S., the monthly payments increase the longer one works—researchers have now examined whether delaying retirement is financially worthwhile.

Earlier retirement: Researchers have analyzed data from the United States to examine whether retiring earlier is worthwhile.

Findings: The study shows that the financial risk of delaying retirement particularly affects men and low-income groups in the U.S.

Making the most of it: For sick individuals in the U.S., retiring early can help them receive some of the benefits they paid for—even if they do not have long to live.

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[–] [email protected] 2 points 3 days ago* (last edited 3 days ago)

That depends on a ton of factors such as:

financial situation
health situation
pension details
family situation (some pensions roll over to spouse, some don't)

Don't keep working if you don't need to, and don't take your pension until you actually need the money. When you should retire has less to do with your pension and more to do with the other stuff above.

Also, consider taking the pension in a lump sum, sometimes that's the better option. But do your research and strongly consider talking to a fee-only advisor, since they'll know what to look for.