The Social Security Administration gives you the option to start receiving retirement benefits as early as age sixty-two, or to delay them up to age seventy in order to receive higher benefits. The time at which you choose to start receiving benefits can have a major impact on your retirement income. You want to maximize not just your Social Security, but also your entire federal retirement benefits package. This can be complicated – you have to understand Social Security benefits and how taxation, retirement income, and other benefits interact with Social Security.

FERS employees need to be aware that their pension and TSP withdrawals have the potential to create an increased tax consequence on their Social Security benefit. Remember a sound financial plan consists of all income streams working together and not against one another. CSRS employees eligible for Social Security benefits should be mindful of the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) that will reduce their overall Social Security benefit.

Below are a series of videos providing additional information about Social Security and your federal retirement benefits.

To learn more about Social Security in retirement, see the below article.

Spousal Social Security and GPO

Gain clarity so you can retire.

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