Let me understand you. We are lucky that we have a pension now that pays a lot less because we can leave it to anyone we like? Um, we'll most likely go through every penny trying to get by. If you annuitize it you'll get a payment, part of which you can leave to your spouse just like a traditional pension. Only less. The inheritance feature to the best of my knowledge is only the cash value if you suddenly died and hadn't annualized it yet. Then you could leave it to others. I think most of us would prefer the traditional pension with a survivor benefit for our spouse.