Premature Retirement Rules For Central Government Employees In Travis
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Currently, the earliest you can voluntarily release your LGPS pension is age 55. The government is planning to increase this to age 57 from 5 April 2028. However, if you were paying into your LGPS pension before 4 November 2021, it is likely you will still be able to take your pension from age 55 if you choose to.
Calculating the retirement age depends on your year of birth. If you were born before 1948, then you can retire at 55. If you were born in 1970 or later, you can enjoy minimum retirement at 57. And if you were born between 1948 and 1970, your minimum retirement age will be between 55 and 2 months and 56 and 10 months.
Voluntary early retirement programs can be legal, but beware if: They unfairly target older workers: The program applies only to employees over a certain age or disproportionately affects older workers in the company.
Your agency head must also request the U.S. Office of Personnel Management (OPM) issue a Voluntary Early Retirement Authority (VERA). You can qualify for early retirement at any age with 25 years of service or age 50 with 20 years of service. Otherwise, you typically qualify when you reach age 62.
