I was with a company for 14 years. They had a policy of early retirement at age 55 with 10 or more years of service. In December of 2011, I went to the company's pension website and started the process for retirement. It was approved and started in April 2012 as I had turned 55 the month before.
Pension benefits are taxable. I have money deducted to cover these each year. Also, realize that your pension amount will be drastically reduced if you retire early - mine was reduced by about 2/3. Worth it, though, as it is better than nothing and helps with the budget.
I recommend that contact the Human Resources department of you former company or see if you can find their pension website.View Thread
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