1. How to Maximize Your PensionIf youll be getting a pension in retirement, you have a lot of decisions to make. One of the most important is decidingwhether to choose the single life or joint and survivor option.Single life will give you the most monthly income for your entire life. But when you die, the income ends. This optionis therefore usually best only for people who are single, because if you are married and your spouse outlives you,your spouse loses the pension income youve been receiving when you die.Thats why most married people select the joint and survivor option. This option pays income for as long as you live and keeps paying after you die, for as long as your spouse lives. But the income you both get is less than theamount that would have been paid under the single life option 6% to 25% less.Fortunately, there is a way to both protect your spouse and retain the higher income. Its called pensionmaximization. Heres how it works:You purchase an adequate amount of life insurance coverage on yourself, naming your spouse asbeneficiary. The death benefit should be enough to replace any lost pension benefits if you die first.At retirement, you take the single life option. This way, you receive the maximum pension benefit for aslong as you live.You then use a portion of the higher pension income youre receiving to pay the insurance premiums.Call us to check if this strategy will fit for you.