Early FERS Retirement and SSA, Medicare Deductions

Category:
0
0

Hello, if I retire early (e.g., 57 with 22 yrs.) and take the FERS pension, but postpone drawing Social Security until age 65, will SSA & Medicare be deducted from my FERS pension, as they are currently from salary? Thank you.

Blocked by moderator
Posted by (Questions: 1, Answers: 0)
Asked on September 1, 2020 7:36 pm
177 views
0
Private answer

If you retire at age 57 with 22 years of service, do you realize your FERS pension will be reduced 25% because you are under 62 when your pension commences? You do have the option to postpone the annuity to age 60 and collect at that age without a penalty…just making sure you understand the rules. However, your question was deductions from your FERS pension. NO, Medicare and Social Security are only withheld from salaries and wages so that is not a deduction from your FERS pension.

Blocked by moderator
Posted by (Questions: 0, Answers: 594)
Answered on September 1, 2020 9:24 pm