The CFPB has issued a guide that is intended to assist near-retirees with private sector payment plans in deciding whether to choose monthly payments or a lump-sum payout. The guide includes a series of questions for consumers to consider before accepting a lump sum. For consumers who plan to take a lump-sum payout, the guide also provides advice on detecting errors in the payment calculation, consideration of future needs, planning for tax consequences, and avoiding frauds and scams.
In November 2015, the CFPB released a new online tool is intended to assist consumers in deciding when to claim social security benefits. The tool allows consumers to estimate how much they can expect to receive in benefits at different ages.