Quote:
Originally Posted by Slava
Yeah there are scenarios where it will work out, but there is longevity risk there. I have no doubt that for some people it can work out, but a blanket recommendation to just invest it on your own and maybe do better isn't responsible either. I would also say that it depends on what the people need to live on and what kind of lifestyle they want to live.
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You are right it isn't for everyone. It is an option most teachers don't know they have. I suppose a better way of putting it is I often offer it as an option. The union keeps it as much of a secret as possible. As soon as a teacher turns 55 they are no longer able to pull their pension.
You are absolutely correct when you mention that it depends on so many variables for each individual and a blanket recommendation is irresponsible.