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Unfortunately, less than 10 percent of all private companies offer a pension to their retiring employees.  Unless you work for one of those companies or a union or government entity, you are probably going to have to create your own "personal pension annuity" to provide that desired lifetime income stream.

Pensions are a transfer of risk strategy that provides an income stream that you can never outlive.  Your former employers is "on the hook" to pay regardless of how long you live.  Annuities are the original transfer of risk strategy that also provides an income stream that you can never outlive.  So yes...a pension is actually the same as an annuity.

Annuity lifetime income stream guarantees were first introduced in the Roman Times as a reward to the dutiful Roman soldiers and their families.  The Latin word for payment is "annua," and is the origin of today's word "annuity."  

Lifetime income annuities have been sold to the U.S. public for hundreds of years, and annuities are still the only product on the planet that can provide an income stream that you can never outlive.  The annuity category has a true monopoly on that benefit.

Annuity income guarantee quotes are commodities, and should be shopped through all carriers to find the highest contractual guarantee for your specific situation and goals.

Contact Stan The Annuity Man to get lifetime income quotes for your specific situation using Stan's proprietary annuity calculators.  You can also get his 6 Annuity Owner's Manuals for free and under no obligation, as well as schedule a call with Stan to develop a customized plan.