What are the pros & cons to collecting early retirement?

I am 52. I resigned from a company where I have 22.5 yrs vested in the company's pension plan. I am eligible to collect immediately (and could have started on when I turned 52.. or 8 months ago).

Ques #1 - Is there any downside to collecting pension funds (other than paying taxes on the funds) early? The "company" is saying that I can collect "x" amount now until 62 and then "x" amount (which is reduced because of my Social Secuirty eligibility). I plan to speak to a tax accountant/attorney but it seems pretty straight forward to me.

Ques #2 - why didn't my former employee notify me that I was eligible to collect at age 52? Do I have any recourse?

Pros & cons have mainly to do with benefits (or lack thereof) see the web sites for some thoughts ...

Usually, the longer you wait to collect the higher the yearly amount of pension you can collect. You might want to check that out. i.e. find out your monthly pension if you collect now or if you wait a few years. If the montly amount is the same then I can't see any reason not to collect it. It will increase your taxes but you will still end up with more money.

the main con is waisting the money before you really need it and not having any money left when your alot older .

the only pro i see is having a chance to splurge and be lazy early in life.

good luck!

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