You may get a new pension choice with it. The law for this has yet to be approved by the Senate. The choice that will be added is the option to withdraw part of your pension in one lump sum. We call that lump sum. What does this new choice actually mean?

With the lump sum, you can have up to 10% of your accrued retirement pension paid into your account. You can spend this amount as you wish, paying off your mortgage for example, buying solar panels or traveling. However, it is important to realize that your monthly pension benefit will be lower if you withdraw a lump sum. You may also have to pay more tax (temporarily) and lose the right to benefits. In these frequently asked questions, we take you through what is known so far about the lump sum.