True or False? Changes to the monthly pension payments can still be made after retirement.

If, in my retirement package, the monthly payment amount is higher for the life-only option than for the joint-and-survivor option, then that means the life-only option is worth more.

If you select the 60% joint and survivor pension, at retirement, you will receive 60% of your pension, and your spouse will receive 40%.

If you select the joint and survivor pension, your spouse will only start receiving monthly pension payments after your death.

If you select a life-only pension with a 5-year guaranteed period, you will stop receiving a monthly pension after 5 years.