I am planning to "retire" at the end of July at 52. Under the plan of the company I have worked for during the last 9 years, I can start collecting my pension immediately and I can roll over all or part of my 401k into the pension to increase my monthly check (also without tax penalties as it would be paid out in equalized partial payments). The decision point for me is whether to take the pension payout as equal payments (same monthly check for as long as I live) or as equal income (larger checks until I turn 62 when the pension fund assumes I will be drawing SS and reduces pension check to equal income based on the calculation they make NOW as to what my SS will be at 62). I am leaning toward the equal income for the larger checks now, since I will need the money to pay bills until I have sold houses to eliminate mortgage payments.
I have seen too many people put off their vital goals for that bigger retirement check and then fall
victim to disability or death just before reaching their retirement payout. I enjoy my job (sometimes), but it is high stress and my body is taking a downward spiral. I have bigger things to do with my life than make money for the corporation.
Therefore, I will be taking SS at 62, regardless of what choice I make with my pension.