Question

13 scott is 63 years old and married to trish. he is a member of a defined benefit pension plan (dbpp) offered by his employer and has named his son as the beneficiary. scott meets his financial advisor to plan for retirement as he has decided to retire next year. he wants to particularly know about the dbpp benefits. which of the following information is the advisor most likely to provide? v2tqzupvznxw2nhtwz5nm1qu109 a. at retirement, scott can transfer the commuted value of his pension into a locked - in account. b. if scott dies, his spouse will receive the commuted value of his pension in the form of cash. c. if scott dies, his spouse will receive a death benefit representing a commuted value of the pension. d. if scott dies, his spouse will receive a lump - sum payment representing a commuted value of the pension. v2tqzupvznxw2nhtwz5nm1qu109

Explanation:

transfer the commuted value into a locked - in account" – but maybe the advisor provides the commuted value (the amount) of the pension. But among the options, option a is the only one about Scott's retirement (not death benefit). So the correct answer is a? Wait, no, the option a: "At retirement, Scott can transfer the commuted value of his pension into a locked - in account." So the advisor would provide this info as it's about Scott's retirement pension payment (commuted value) and what he can do with it. So the correct answer is a.

Wait, but earlier I thought option b, but no, Scott is retiring, so it's about his own pension, not death benefit. So the correct answer is a.

Answer:

a. At retirement, Scott can transfer the commuted value of his pension into a locked - in account.