Schwab MoneyWise Pension vs. Lump Sum Calculator
Tap a star to rate
Schwab's pension calculator helps you compare the two classic payout strategies: taking a guaranteed monthly check for life versus receiving a lump sum upfront that you manage yourself. It projects how each choice affects your income throughout retirement and accounts for your life expectancy.
Choose this if you have a pension plan and face the critical decision of taking monthly payments or a lump sum. It's more specialized than general retirement calculators because it zeros in on this specific high-stakes choice that can't easily be reversed.