# Pension - Did They Calculate 10 yr Certain Correctly?



## NotSure (Oct 22, 2014)

Hello;
About to start receiving a private sector pension (small) - The Company gave me a preview of what I can expect between Single Life Annuity vs 10 Yr Certain (my choice so I can pass residual to beneficiaries if something should happen in short term). The 10 Yr Certain amount is approx 91% of the Single Life.

Included in the materials sent to me was a Relative Value Form where it shows the 10 Yr Certain at 94%.
When I questioned the difference the Rep at the outsourced firm handling the Pension gave me some mumbo-jumbo that never really answered the question.

Where would a person go to get a straight answer?
Would I have to hire an Actuarial? or specialized Accountant?.......Alternative online?

Thanks in advance


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## QuickSilver (Oct 22, 2014)

I have 3 small private pensions.  I waited until 65 to collect.  They were calculated based on my years of service and compensation.  I opted to take the survivor benefit at a lesser monthly amount.  This means that should I die before my husband, he can continue to collect 50% of my pensions.  If he dies before me, I can bump up the amount I am receiving back to the original calculation.  Is that what you are talking about?


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## NotSure (Oct 22, 2014)

Same church - different pew. Yours is a different option than my choice. Yes, all pensions are based on service & compensation for the standard (Single Life Annuity) payout BUT certain selections (i.e.; 10 yr Certain) are a % of the standard. What I'm questioning is the exact dollar calculation (91%) for my 10 Yr Certain monthly payout (vs Standard) when their own form shows a Relative Value of 94%.


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