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<blockquote data-quote="vantexan" data-source="post: 5047179" data-attributes="member: 24302">Yes, and people firmly believed that if they bought a few thousand Iraqi Dinars they would become millionaires.&nbsp; People can misunderstand something but believe they are right.&nbsp; You may be right.&nbsp; I may be right.&nbsp; Before you wait a number of years to collect your pension thinking it will be a good deal larger you may want to get that in writing that it will increase that much.&nbsp; It doesn&#039;t cost you anything to call and talk to someone.&nbsp; Lets say your 5 year average is $50k.&nbsp; Let&#039;s say you got 25 qualified years on your pension.&nbsp; You would get $25k annually at 60 under the traditional pension.&nbsp; According to you guys if you wait 5 years to take it you would get $40k a year.&nbsp; Extra $15k a year.&nbsp; If you had taken $25k a year at 60 you would have collected $125k by 65.&nbsp; How long with an extra $15k a year would it take to recoup that $125k?&nbsp; A little over 8 years.&nbsp; So at 73 the company would start shelling out more than it saved with you waiting.&nbsp; If you lived to exactly 10 years later they will have given you an extra $150k.&nbsp; Now magnify that by potentially thousands who waited once they heard about this.&nbsp; And potentially thousands living a good deal longer than 83.&nbsp; There&#039;s a reason insurance companies have actuaries figuring out what to charge people for policies vs the chances of them collecting after reaching a certain age.&nbsp; Honestly I hope you get it.&nbsp; Good for you if you do.&nbsp; But it would be foolish to wait those 5 years without checking first and realizing you left a lot of money on the table.</blockquote>

[QUOTE="vantexan, post: 5047179, member: 24302"] Yes, and people firmly believed that if they bought a few thousand Iraqi Dinars they would become millionaires. People can misunderstand something but believe they are right. You may be right. I may be right. Before you wait a number of years to collect your pension thinking it will be a good deal larger you may want to get that in writing that it will increase that much. It doesn't cost you anything to call and talk to someone. Lets say your 5 year average is $50k. Let's say you got 25 qualified years on your pension. You would get $25k annually at 60 under the traditional pension. According to you guys if you wait 5 years to take it you would get $40k a year. Extra $15k a year. If you had taken $25k a year at 60 you would have collected $125k by 65. How long with an extra $15k a year would it take to recoup that $125k? A little over 8 years. So at 73 the company would start shelling out more than it saved with you waiting. If you lived to exactly 10 years later they will have given you an extra $150k. Now magnify that by potentially thousands who waited once they heard about this. And potentially thousands living a good deal longer than 83. There's a reason insurance companies have actuaries figuring out what to charge people for policies vs the chances of them collecting after reaching a certain age. Honestly I hope you get it. Good for you if you do. But it would be foolish to wait those 5 years without checking first and realizing you left a lot of money on the table. [/QUOTE]

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