I deferred my pension back then Steve. Now I'm seriously considering taking a lump sum payout and rolling it into a IRA so I have total control and can manage it myself, though at this point the returns will be similar. Everyone is different... my situation (being single) and now my age has me looking at this stuff more closely. If I croak .... the pensions... poof... gone! I might just take lump sum payouts (now) and get 100% while I can... I dunno.
I rolled my 401k over to IRAs as I left major corporations during my career .... probably should have done similar with pensions I had earned also. I could have (at a much younger age) invested them more wisely for "my" situation ....
In hindsight
No real regrets here .... just wish I had a "do over" now.