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- Payout is normally used in the sense of someone else paying you for some reason, whether that reason is legal, contractual or ethical, etc.1. In the context of withdrawing funds from an account, the word withdrawal is more suitable1. Withdrawing your pension before retirement can result in unplanned taxes and penalties, and monthly payouts offer a better deal when viewed over your lifetime2.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.The word payout is normally used in the sense of someone else paying you for some reason, whether that reason is legal, contractual or ethical, etc. In your context, the word withdrawal is more suitable - the account holder withdraws funds and may want to cancel a pending withdrawal request.english.stackexchange.com/questions/316390/pay…The risk of outliving a one-time lump-sum payment means there are very few good reasons to cash out your pension besides a below-average life expectancy. Withdrawing your pension before retirement can also result in unplanned taxes and penalties. More often than not, monthly payouts offer a better deal when they're viewed over your lifetime.www.thebalancemoney.com/should-you-cash-in-yo…
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