The $$ has to be in your name or you can't count on it whether it's the governemnt or your employer-funded pension plan. that is the lesson I preach to my kids. Only if it's in your name can you count on it being there for your retirement. My husband and I bith have employer-funded pensions. We are only 5 years from having 30 years in. It will be tempting to retire and take the money while it's still there. Happily, we have the option of taking it in a lump sum.
Take the lump sum, quickly. I did when I left after 18 years of employment.
But beware my previous post. When the financial catastrophe of social security really begins, the government will confiscate your money anyway. After all, you, with your private savings, will be the "ants" in the minority, and the "majority" of grasshoppers will vote themselves to your money.
The lump sum option wasn't available to me when I retired. I suggest you take the money and run. :^)