What Is The Normal Retirement Age Under The Pension Plan?
The normal retirement age is 65. How Soon Can I Start Collecting My Pension? You can start collecting your pension as early as the first day of the month coinciding with or immediately following your 50th birthday. By When Must My Pension Commence? Your pension must commence by December 1 of the calendar year in which you attain age 71. What Will I Receive When I Retire? If you became a member of the Pension Plan before August 1, 1999 and were eligible to retire on March 1, 2001, you can receive your credited pension any time after age 60; or, you can collect a reduced pension if you retire between the ages of 50 and 60. Your credited pension will be reduced by one-half of 1% for each month your retirement date is before age 55 and by one-quarter of 1% for each month between the ages of 55 and 60, with no reduction at age 60. If you became a member of the Pension Plan before August 1, 1999 and were not eligible to retire on March 1, 2001, you can receive your credited pension any time
