Which plan is the best

[Setho]

I just recently got enrolled for a pension plan and while am still filling the form, the insurance company has given me two options. Depending on the amount to be deducted from my salary, my pension can come in two ways.
1. They would pay the whole money after I retire in 3 installments for a total 3 years
2. Pay me monthly like salary
Which should I choose

 

[Donkiz]

Retirement does not necessarily means that the person is going to sit at a place and be receiving feeding money on monthly basis. If a retiree has enough capital he can channel it to a profitable business that can earn him more money. So the option of having the money paid in three installments for three years is better.

 

[Favour67]

I think the best idea is to get paid monthly that way you'll be able to do and execute the plans you have. When you get paid in installments you might need the money for something important and will have to wait for it.