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I have a defined pension plan and would like to start receiving monthly income. What is the amount I can withdraw?



Our response:

Pension plans work differently depending on how they are set up – as defined contribution, or defined benefit – and the amount you receive depends on many factors, including how long you have been part of the plan and how much has been contributed by you and on your behalf.

Read your pension plan statements and speak to your plan provider to understand how your retirement income is calculated and what you may receive. Learn about defined benefit plan retirement income, and options for income if you have a defined contribution plan.

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