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"I have other assets to invest but do not know how to value my pension for pruposes of asset allocation. Anyone with ideas? "

There are several ways to do this. You can estimate the lump sum value using the PV method. To do this you will need to estimate how long you will live and what the cash stream will be, incase it's inflation adjusted or has survivor rights. You will also need to use some rate of return like those for t-bills or cd's. Then you can use that number as part of your portfolio value and consider it a bond/income portion of your portfolio.

Another method would be to compare the monthly income coming from the pension versus the income coming from stock dividends and returns and then ratio the incomes with the pension making up the bond/income portion and the dividends/equity return making up the stock portion.

This method also is more a more complex calculation because you would need to normalize the incomes based on the differences in return rates. It is much less than intuitive.

An example...

Estimate t-bill returns at 6% and equity portfolio return at 15%. Assume equal income from both sources.
Your allocation would not be 50-50 because basically you'd need 6/15 (40%) the equity to generate the same income. Your allocation would NOT be 60 - 40 either.
To generate \$1,000 at 6%, you'd need \$16,667 of t-Bills
and to generate \$1,000 at 15%, you'd need \$6,667 of equity. The total value would be \$23,333 and 6,667/23,333 would be 28.6% equity with the remainder of 71.4% of fixed pension.

And guess what the numbers will chaange drastically if other than 6% and 15% are used.