how can I turn my monthly pension into a lump sum payment?

Posted by Dolores
Randi M asked:


I got out of the Steelworkers union about 2 years ago after ten years of membership. I will be getting a small pension soon is there any company that will buy it out?

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This entry was posted on Wednesday, March 24th, 2010 at 1:09 am and is filed under Personal Finance. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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2 Responses to “how can I turn my monthly pension into a lump sum payment?”

  1. leslie Says:
    March 25th, 2010 at 3:06 pm

    Create a video blog

    There may be but you would be very foolish to seek such a buy out. You will get next to nothing for it. Maybe as little as 25%.

  2. zygote222 Says:
    March 27th, 2010 at 9:53 pm

    Caffeinated Content - Members-Only Content for WordPress

    There are a number of companies that will pay cash for rights to some periodic payment you’re entitled to, including lawsuit settlements and lottery winnings. See, for example,

    But a pension is a lot trickier - the value of your pension is typically related to your life expectancy. To make it sensible for someone to buy out your pension, you would have to convince them that you’re in good health and likely to live to at least average life expectancy for someone your age. But, if you’re a good health risk, why do you want someone to buy out your pension? You would expect to collect more money by keeping the pension and collecting the monthly payments.

    I suggest you forget about trying this. The trouble and hassle of finding a buyer are almost certainly more than the deeply-discounted value of any buyout offer you’re likely to get.