I'm coming up to my sixtieth birthday in a few days and I've received a lot of forms from pension providers.
Regarding the numbers: When I have the opportunity to take cash I will be doing so. The cash received is equivalent to the money I would receive in a pension for the next 22 years even not taking account of inflation. I don't get any increase for inflation and most do not have a widows pension.
Regarding the documentation: I thought I would phone up rather then spend ages reading all the documentation. I'm glad I did.When I pointed out some inconsistencies in the forms I had to complete I was told that statement is wrong it should say XXX! There were several of these problems - something about listing previous pensions when it should be future pensions, completing certain section if you tick a certain box but I was told to complete other boxes instead.
I'm glad I am investing in property rather than pensions to any material extent.