If you have a pension plan that provides a lump sum payment for your retirement, it’s important to take time to think about how you plan to make it last for the rest of your life.

Here are some points to consider:

• Talk to a financial planner

  • Make an appointment with a financial planner to discuss your life plans. They will talk to you about a range of options tailored to your specific needs.

• Make a budget

  • Make a list of your current expenses and income.

  • This will help determine your spending habits, so you can budget accordingly to make sure your money will last your lifetime.

• Talk to your Pension Plan Administrator

  • Talk to your current pension plan administrator about retirement planning resources and assistance.