FERS & CSRS Your Pension

Starting federal service after 50

The pension is modest. FEHB for life is the prize.

What a late career earns
62 + 5
years
An immediate, unreduced pension
FEHB
for life
Enroll on day one and stay enrolled
5%
TSP match
Plus catch-up contributions from 50

The one step that matters most: enroll in FEHB as soon as you’re eligible. It’s what lets you keep coverage in retirement.

Jump to a section
  1. When you can retire
  2. What the pension pays
  3. Keeping FEHB
  4. Building more in fewer years
  5. Frequently asked questions
5 years
To vest in a FERS annuity
OPM
1%
Of high-3 per year with under 20 years
OPM
$8,000
2026 TSP catch-up limit at 50+
IRS
$11,250
2026 catch-up limit at ages 60–63
IRS

1. When you can retire

FERS vests after five years. For someone who starts late, the realistic retirement options are:

OptionRequirementWhat you get
Immediate retirement62 with 5 yearsUnreduced pension
MRA+10Minimum retirement age with 10 yearsReduced 5% a year under 62, unless postponed
DeferredLeave with 5+ years before eligiblePension later; no FEHB

Hired at 55, you reach 62 with seven years. Hired at 50, you could reach your minimum retirement age with ten years and use MRA+10 — see MRA+10. Retiring at 62 means no FERS supplement, which only bridges the gap to 62.

2. What the pension pays

With fewer than 20 years, FERS pays 1% of your high-3 per year of service. Be realistic about it:

Years at retirementAt a $100,000 high-3
5 years$5,000 a year
7 years$7,000 a year
10 years$10,000 a year

That isn't much on its own. But it's inflation-adjusted after 62, it's paid for life, and it's the key that keeps FEHB. The formula is in the FERS pension calculation.

3. Keeping FEHB

For a late starter, FEHB in retirement is often worth more than the pension itself. To keep it, you must retire on an immediate annuity and have been enrolled for the five years before retirement — or for every period since your first opportunity to enroll, if that's less than five years.

Enroll on day one

If you skip FEHB at first because you're covered elsewhere, you may not have been enrolled "since your first opportunity" — and that can cost you retiree coverage. Enroll when you're first eligible and stay continuously enrolled. See the five-year rule.

A deferred annuity doesn't carry FEHB, so leaving before you're eligible for an immediate annuity means giving it up.

4. Building more in fewer years

For the broader picture of catching up on savings, see starting retirement savings at 50.

5. Frequently asked questions

Can I still get a federal pension if I start after 50?

Yes. FERS vests after five years of creditable service. If you reach 62 with at least five years, you can retire on an immediate, unreduced annuity. With ten years you may also be able to retire earlier at your minimum retirement age under MRA+10, with a reduction unless you postpone the start.

How much will the pension be?

It is modest if your career is short, because FERS pays 1 percent of your high-3 for each year of service before 62 with fewer than 20 years. Seven years at a $100,000 high-3 is about $7,000 a year. The larger value of a late federal career is often FEHB for life, the TSP match, and added Social Security credits.

Will I be able to keep FEHB in retirement?

Yes, if you plan for it. You must retire on an immediate annuity and have been enrolled in FEHB for the five years before retirement, or for every period since your first opportunity to enroll if that is less than five years. For a late starter, enrolling as soon as you are hired and staying enrolled is what keeps that door open.

Do I get the FERS supplement if I retire at 62?

No. The supplement bridges the gap from your minimum retirement age to 62, so someone retiring at 62 does not receive it. It applies to retirees who leave at their minimum retirement age with enough service.

How can I build more retirement income in a short career?

Contribute enough to the TSP to get the full 5 percent agency match, use catch-up contributions, which are available from age 50 with a larger limit at 60 to 63, and check whether any prior military or civilian service can be bought back to add years to the pension calculation.

Sources
  1. OPM, FERS retirement eligibility
  2. OPM, FERS annuity computation
  3. OPM, FEHB enrollment and continuation into retirement
  4. TSP, contribution limits including catch-up