FERS Early Retirement Calculator

Calculate your reduced pension under MRA+10 or VERA early retirement options

Calculate Early Retirement Benefits

See how retiring before age 62 affects your FERS pension with the 5% per year age penalty

Must be at least your Minimum Retirement Age (MRA)
$
VERA is only available during agency downsizing

Understanding FERS Early Retirement Options

MRA+10 Retirement

If you have at least 10 years of service and have reached your Minimum Retirement Age (MRA), you can retire immediately. However, your pension will be permanently reduced by 5% for each year you're under age 62.

Example: If you retire at age 57 with 25 years of service:
- Years under 62: 5 years
- Penalty: 5% × 5 = 25% reduction
- If your full pension would be $2,000/month, you'll receive $1,500/month permanently

VERA (Voluntary Early Retirement Authority)

During agency restructuring or downsizing, OPM may authorize VERA. This allows employees to retire early with no age penalty:

  • Age 50 with 20 years of service, OR
  • Any age with 25 years of service

Deferred Retirement Alternative

Instead of taking reduced benefits now, you could defer your retirement application until age 62. This gives you:

  • Full, unreduced pension based on your years of service
  • No age penalty
  • But no income or health insurance during the deferral period

Frequently Asked Questions

Your MRA depends on your birth year: Born before 1948: age 55; 1948-1952: gradually increases; 1953-1964: age 56; 1965-1969: gradually increases; 1970 or later: age 57.

Yes, in three ways: (1) Wait until age 62 to retire, (2) Have 30+ years of service and wait until your MRA (no penalty), or (3) Qualify for VERA if your agency offers it during downsizing.

If you retire under MRA+10 (immediate retirement), yes, you qualify for SRS until age 62. If you choose deferred retirement, you do NOT qualify for SRS because it's not an immediate retirement.

You can keep your Federal Employees Health Benefits (FEHB) in retirement if you've been continuously enrolled for the 5 years before retirement. The government continues to pay its share of premiums.

Educational use only: Results are estimates. For official benefit determinations, use your agency HR/OPM retirement services—not this page alone.

Early retirement, MRA+10, and benefit reductions

Use the sections below to align this calculator with your real planning questions—each block matches a common search intent.

Age vs. service trade-offs

Retiring under MRA with only 10 years triggers a permanent reduction unless you postpone—compare annuity starts vs. FEHB eligibility.

SRS and early outs

Voluntary early retirement authority (VERA) and discontinued service rules change supplements and eligibility windows.

Cash-flow timing

Pair pension estimates with TSP withdrawal rules and SRS to see monthly income before age 62.

What this calculator cannot decide

  • It does not know your agency’s VERA offer or personnel policies.
  • HR must approve eligibility for discontinued service or postponed retirement.

Related Calculators & Guides

Authority & primary sources

Official rules change periodically. Cross-check estimates with Retirement Services at OPM.gov and your agency’s human resources office.

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