Pension eligibility


Q. I’m a federal employee now, but I will leave my job and move to another state. I’ll be 60 years old in November. By the time I leave, I will have worked in my present job for five years and six months. Also, I’ve worked at the Federal Reserve for 6 months as a government federal employee. My retirement is under FERS.

Can the months I worked at the Federal Reserve be counted or combined to add to my five years and six months as a federal government employee? If it is, it will be six years of federal service. Am I eligible/qualified to collect a pension and/or benefit at age of 62? Can I apply now and collect later when I reach the age of 62?

Do I have to wait to apply until I’m at age of 62?  I am willing to wait for two years to collect a pension benefit.

A. Yes, any federal employee who has at least five years of actual FERS service can retire at age 62. If they haven’t reached age 62 and leave government, they can apply for a deferred annuity at age 62. Whether your time at the Federal Reserve is considered creditable service will depend on the part of the organization in which you worked. Your agency will have to check that out for you. And they can call the Office of Personnel Management if they aren’t certain.


About Author

Reg Jones was head of retirement and insurance policy at the Office of Personnel Management. Email your retirement-related questions to

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