Early Pension Eligibility Extended to More Federal Workers The federal government has announced that it will extend early pension eligibility to a wider range of federal employees. The move is part of an effort to attract and retain a skilled workforce. Under the new rules, employees who are at least 55 years old and have 20 years of service will be eligible to retire with full benefits. This is a reduction from the previous requirement of 57 years of age and 30 years of service. The change will affect approximately 200,000 federal workers. It is expected to save the government money in the long run, as employees who retire early will receive smaller monthly pensions. The announcement was welcomed by federal employee unions. The National Treasury Employees Union (NTEU) said that the change “will help to retain a skilled and experienced workforce.” The American Federation of Government Employees (AFGE) said that the change “is a step in the right direction.” However, AFGE also called for additional changes to the federal retirement system, such as increasing the cost-of-living adjustments (COLAs) for retirees. The extension of early pension eligibility is a significant change to the federal retirement system. It is expected to have a positive impact on the ability of the government to attract and retain a qualified workforce.Federal Government Announces Early Pension Eligibility Expansion for Front-Line WorkersFederal Government Announces Early Pension Eligibility Expansion for Front-Line Workers The federal government plans to expand early pension eligibility to more front-line workers, Treasury Board President Anita Anand announced in Ottawa on Thursday. In a statement, Anand said the government will introduce legislative changes that will allow more public safety workers to retire after 25 years of service without a reduction in their pension. The move is in response to recommendations made in December by the Public Service Pension Advisory Committee (PSPAC), Anand said. Eligible employees are expected to include federal and territorial firefighters, territorial correctional service employees, paramedics, federal border employees, parliamentary protection officers, and federal search and rescue technicians. Front-line employees of Correctional Service Canada are already eligible for early retirement. Similar provisions are also available to members of the Canadian Armed Forces and the RCMP. “These proposed changes will provide consistency to how the pension plan recognizes the demanding nature of day-to-day duties for these occupational groups, who have an absolutely critical role in promoting and protecting the safety and security of the population of our country,” Anand told reporters Thursday. According to Anand, expanding early retirement eligibility is expected to cost the government $75 million, plus an ongoing annual cost of approximately $21 million. The Public Service Alliance of Canada (PSAC) praised the announcement, adding nearly a decade of hard work and advocacy from their members has paid off. “After years of being treated like second-class workers, this legislation will offer a dignified retirement to thousands of front-line workers,” PSAC national president Sharon DeSousa said in a statement. Most federal public servants can currently retire without penalty at 60 or 65, or earlier if they have 30 years of pensionable service.Early Pension Eligibility Extended to More Federal Workers In a move that will benefit thousands of federal employees, the Office of Personnel Management (OPM) has announced that early pension eligibility will be extended to a wider range of workers. Previously, only certain categories of federal employees, such as law enforcement officers and firefighters, were eligible to retire at age 50 with 20 years of service. Under the new guidelines, additional employees who perform hazardous duty or work in physically demanding jobs will qualify for early pension benefits. The expansion includes employees in occupations such as: * Air traffic controllers * Border Patrol agents * Correctional officers * Emergency medical technicians * Firefighters * Military police officers * Park rangers * Police officers * Special agents These employees will now be able to retire at age 50 with 25 years of service, five years earlier than the standard retirement age. OPM estimates that the change will affect approximately 45,000 federal workers. The agency said that the expansion is part of its ongoing efforts to recognize the unique challenges and risks faced by these employees. “Our federal employees who perform hazardous duty or work in physically demanding jobs deserve the opportunity to retire with dignity and financial security,” said OPM Director Kiran Ahuja. “This expansion will ensure that these dedicated public servants receive the benefits they have earned.” The new guidelines will be implemented in stages, with the first group of employees becoming eligible for early pension benefits in October 2023.