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Workers & Retirees


Retired Couple Reviewing Paperwork

Annuity or Lump Sum?

Many people with a retirement plan face the decision of choosing between an annuity and a lump sum payment to fund their day-to-day life after they stop working. An annuity provides a lifetime steady stream of income whereas a lump sum is a one-time payment.

Guaranteed Benefits

PBGC guarantees basic plan pension benefits, including pension benefits at normal retirement age, most early retirement benefits, disability benefits, and annuity benefits for survivors of pension plan participants. Find out more, including our Maximum Monthly Guarantee Tables.


Whether you are currently receiving pension payments or entitled to payments in the future, learn how PBGC pays your benefits, including the dates on which we will mail your checks or pay you by Electronic Direct Deposit.


PBGC makes three distinct types of payments to beneficiaries. See who qualifies and how to designate a beneficiary.

Appealing Formal Determinations

If you can provide a specific reason why PBGC’s formal determination of your benefit is wrong, you may appeal the PBGC determination within 45 days.