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Rule of 62 True
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<blockquote data-quote="ups_vette" data-source="post: 101370" data-attributes="member: 2125"><p>Full time management are eligible to retire with full pension at age 62. They may decide to retire before reaching age 62 starting at age 55. There is a penalty for retiring before age 62. The pension you receive is reduced by 3% for each year of what your full pension would be if you continued working to age 62.</p><p>If you retire at age 55, your pension will be 79% of what your age 62 pension would be. If you retire at age 56, your pension will be 82% of what your full pension would be, and so on.</p><p></p><p>Talking with current UPS Management, there has been no official anouncement of any change to the pension plan for current management.</p><p></p><p>It's interesting to note that you become eligible for Social Security at age 62. Of course there's a reduction in the amount you receive if you accept Social Security at age 62 rather than wait till your reach 65. The Social Security Administration will tell you the amount you will receive at age 62 and what you will receive at age 65. In most cases, you are better off taking it at age 62, unless you plan on living to 100 and having Willard Scott wishing you a Happy 100th Birthday on the Today Show.</p></blockquote><p></p>
[QUOTE="ups_vette, post: 101370, member: 2125"] Full time management are eligible to retire with full pension at age 62. They may decide to retire before reaching age 62 starting at age 55. There is a penalty for retiring before age 62. The pension you receive is reduced by 3% for each year of what your full pension would be if you continued working to age 62. If you retire at age 55, your pension will be 79% of what your age 62 pension would be. If you retire at age 56, your pension will be 82% of what your full pension would be, and so on. Talking with current UPS Management, there has been no official anouncement of any change to the pension plan for current management. It's interesting to note that you become eligible for Social Security at age 62. Of course there's a reduction in the amount you receive if you accept Social Security at age 62 rather than wait till your reach 65. The Social Security Administration will tell you the amount you will receive at age 62 and what you will receive at age 65. In most cases, you are better off taking it at age 62, unless you plan on living to 100 and having Willard Scott wishing you a Happy 100th Birthday on the Today Show. [/QUOTE]
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