The best way and most accurate is to us a net present value calculation based upon certain assumptions such as current age, risk free rates, total expected return and actuary assumptions.
A down and dirty way to do it is to capitalize the income stream. As an example if your monthly pension amount is $3,000 or $36,000 annual then you could capitalize this by say 5% which gives you a value of $720,000.
Hope this helps.
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