Q. I plan to retire at age 57 (MRA) with 25 years of service. I want to avoid the yearly 5 percent penalty by postponing the receipt of annuity. Will I start receiving my annuity and Social Security supplement at age 60?
A: No, to both questions. To avoid the age penalty, you’d have to postpone the receipt of your annuity to age 62, when you would no longer be eligible for the special retirement supplement.