I leave the Public Service before I reach age 50. What are the benefits available?
If you have less than two years of pensionable service in the Public Service and have contributed to the plan, you are entitled to a return of contributions with interest. If you leave the Public Service before age 50, you may choose a deferred pension which becomes payable at age 60. You may, at any time after you reach age 50, request an annual allowance (see the previous question for that allowance). You may also choose to receive your pension benefits in the form of a transfer value rather than as a future monthly pension. A pension transfer value is a calculated lump-sum value of your future pension benefits. Contributors have one year after leaving the Public Service to choose this option.
Related Questions
- If I leave my money in the system until I reach retirement age, will you automatically send me my benefit when Im eligible to start collecting?"
- Can my wife receive spousal benefits once I reach full retirement age even though she will continue to work?
- Can I transfer previous public service, military service or leave to VRS?
