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The month you turn 62, your FERS Supplement stops. Do you replace it with Social Security right away, or wait for a bigger check? Here's the trade-off, who should claim early, who should wait, and two traps to watch for.
Quick facts: The supplement stops at the end of the month you turn 62. Your pension keeps going, and FERS COLAs start at 62. With a full retirement age of 67 (born 1960 or later), claiming at 62 pays 70% of your full benefit, 67 pays 100%, and 70 pays 124%. Waiting until 70 instead of claiming at 62 breaks even at roughly age 80. Lean earlier if you're single, in average health, with modest savings. Lean later if you're the higher earner in a married couple and have savings to bridge to 70. Still working before full retirement age? In 2026, $1 is held back for every $2 you earn over $24,480. And Social Security plus your pension can make up to 85% of your benefit taxable.
Educational only, not tax, investment, or legal advice. Haws Federal Advisors | HawsFederalAdvisors.com