Q. I am a retired federal employee covered by CSRS Offset with 31+ years of federal service. I understand that, at age 62, my CSRS federal pension will be reduced and Social Security will pay the reduced amount to receive approximately the same in monthly annuity. Would my Social Security amount increase if I did not claim Social Security until I reached age 65 or my full Social Security retirement age? Also, I believe I have 30 years of substantial earnings with Social Security. Does this have an impact on when and how much I will receive from Social Security after age 62?
A. If you retire before age 62, the reduction will occur at age 62. If you retire at or after age 62, the reduction will occur on the day you retire.
The windfall elimination provision will apply to your Social Security benefit only if you have fewer than 30 years of substantial earnings under Social Security when you become eligible for that benefit.