Dear Carrie: I’m about to retire, and I have to decide between taking a lump sum or lifetime income payments for my pension. I’m leaning toward the lump sum. Is this a good idea?—A Reader Dear Readers: My first thought is to say congratulations! A pension in any form—whether taken as a lump sum, as lifetime income (sometimes called a pension annuity) or as some combination of both, is a valuable and increasingly rare benefit. This is an important retirement decision. Take your time and weigh all the options carefully. A lump sum can seem alluring, no doubt, but consider tax implications as well as the potential benefits of spreading out payments over a longer period of time. I also want to point out that one choice isn’t universally better than others. The best choice for you will depend completely on your individual circumstances. Let’s take a look at some …