Q. I had 15 years of federal service when I quit (not retired). Am I entitled to receive a FERS pension upon reaching retirement age?
A. If you left your contributions in the retirement system, you can apply for a deferred annuity when you reach your minimum retirement age. MRAs range from 55 to 57 depending on your year of birth. However, your annuity will be reduced by 5 percent for every year (5/6 percent per month) that you are under age 62. You can reduce that penalty by waiting until you are older, and eliminate it entirely if you wait until you are 62.