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Wednesday, January 13, 2016

CFPB Releases Consumer Pension Payouts Guide

The CFPB released a guide to help consumers navigate their pension payout options. The guide gives near-retirees the information they need to understand the trade-offs of taking their pension in a monthly payment or in a lump sum. To help consumers who are considering a lump-sum payout, the CFPB guide provides tips and warnings about how to protect and manage that money.

CFPB Director, Richard Cordray said:
Retirees are increasingly being faced with the difficult one-time choice to either take their pension payments in a lump sum or as a lifetime income stream. Clear information about the trade-offs they face can help consumers make the right financial decision for their retirement security.

Read more.

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