Pension maximization is a proactive financial strategy aimed at optimizing your retirement income. It involves the individual selecting the higher single-life pension benefit, which pays out for their lifetime only. This strategy can be implemented years prior to retirement as well as at retirement. By planning and implementing this approach years before retirement, you can leverage your pension's single-life payout option. This early action allows for greater accumulation of wealth, providing you with additional income streams during retirement and ensuring financial security for you and your spouse. Upon the retiree's death, this strategy provides financial support to the surviving spouse, ensuring that both partners are well-provided for throughout their lives. This approach requires careful analysis and planning to balance the risks and benefits, ensuring it aligns with the individual's overall retirement goals and financial situation.