To KWSP or To Pension

I received a gentle reminder from the faculty a few days ago that I should be counting-down the days of my golden-age years from now. They want me to choose between a sack of money from the KWSP or a modest fix amount of RM monthly flow from the Pension Scheme once i retire. I'm not sure about the pros and cons of each. Being a 'rational but not always' spendthrift as I am and having my parents as my money managers still even at erm..30, I would quickly choose the pension scheme as I know I would get a steady income every month and not declare bankruptcy a few months after retirement. I feel that it is unfair for the employer to just throw the form at us and expect us to submit 'dengan kadar segera' (a.s.a.p). Don't they realize that this choice that I am about to make is crucial for the sake of my future? What they should have done is to attach some sort of brochure or pamplet explaining about these two choices so that people can make up their mind with assurance and with some basic knowledge. Mom said it is better for a woman to take the pension scheme and a senior colleague commented that the pension scheme has a lot of medical benefit. And both also agree that the KWSP would be better if you are planning on investing the lump sum of money on a business or a long term investment. But today I found out that it is also possible for the KWSP money to be withdrawn like the Pension scheme way which is by monthly. Thinking about it again even if the KWSP can be paid to us like a Pension scheme would, will it still have the other benefits that the Pension scheme has like the medical benefit. And if I withdraw my money monthly, will they guarantee that I can get the whole amount that I am supposed to get if I had a sudden change of heart and want it in lump sum? Or do they have a catch somewhere on this matter? The only plus points that i can think of at the moment of the KWSP is the ability to withdraw in large amount at one time. Think i still need to do some more homework on this one, I would need to know ALL the 'catch' that they have on each of the schemes before I can commit myself and the faculty will just have to wait for my reply. The truth is, I don't trust the government with my keeps.