Those with pensions may be given the choice to take their pension as a lump sum all at once or as monthly payments in retirement. There are pros and cons to either decision and one that should not be made lightly without due process. Monthly payouts, much like Social Security benefits, offer great stability, but taking a lump sum offers more opportunities for investments and greater growth potential. In the end it boils down to which option you can afford to take or not take based on your financial needs in retirement. For more information, visit this article by Walter Updegrave with CNN.