"Keep in mind, too, that insurers charge women more for annuities because of their longer life expectancy. But the lump sum amount is gender-neutral, so a lump is generally a worse deal for women. An alternative for women: Take the lump and use that money to delay claiming Social Security until 70, effectively buying a larger, inflation-adjusted annuity from Uncle Sam at a gender-neutral rate."
"How secure is your pension if you don't take the lump? If your ex-employer retains its pension obligation to you and then goes bankrupt, the federal Pension Benefit Guaranty Corp. will pay you your pension–up to a maximum of $56,000 a year for a pension taken at age 65. (While that cap is adjusted yearly, your maximum guaranteed payment is locked in, based on the year your pension is dumped on the PBGC.)"
