One of the many benefits of a career working for the city, county or state is the ability to get cash for pensions once you reach retirement age.  State pension purchases enable the retiree to sell a certain number of their future pension payments to a reputable agency, and in exchange they receive a lump sum of money that they can do whatever they please with.  For a state employee such as a firefighter, this can be extremely beneficial after all those years of service to the statewide community.

Although a firefighter pension buy out is one of the most common pension purchases, most types of pensions are eligible for some sort of buy-out arrangement.  Military and civil service pensions are often eligible, as well as public and private corporation pensions.  Another huge benefit of getting cash for pensions is that the cost of financing can often be less than the cost of traditional financing.  The cash advances are usually processed very quickly too, which can be the biggest benefit of all. 

With state pension purchases, it’s possible to get the money needed for any number of important expenditures in a very short period of time.  That money can be used to put a down payment on a vacation home, purchase a boat, make renovations to one’s existing home, go back to school to get a MBA or other degree that there just wasn’t time for before, or any number of other things.  As soon as the cash advance is approved, the retiree is free to use the money however they wish.

For retired firefighters and various state employees with pension plans, it can be very beneficial to receive one of these cash advances.  There are reputable pension purchase companies that can help provide more information and get the process started.