Draw pension?


Q. I am 55 and worked 19 years with the Postal Service under FERS (from age 26 through 46). I have worked other jobs in the past and up through a few weeks ago. Can I start drawing my pension from the Postal Service? I realize it would be at a lower rate than if I waited until I was older.

A. No, you can’t. You won’t be eligible for a deferred annuity until you reach your minimum retirement age, which is 56. Because you’d be retiring under the MRA+10 provision, your annuity would be reduced by 5 percent for every year (5/12 percent per month) that you were under age 62.


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

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