In choosing a retirement benefit option, it is generally a good idea to obtain professional retirement planning advice. This is usually encouraged by an employer by referring the employee to an external consultant.

Suppose, you are that professional consultant, to help the employee select the most appropriate course of action what advice would you give if:

 

a. They stayed with their existing employer pension plan until normal retirement What are the advantages? 

 

b. If they chose the lumpsum option instead, what are the key considerations?