Military and veteran retirement
The Military retirement system is arguably the best retirement deal around. Unlike most retirement plans, the Military offers a pension that starts the day you retire, no matter how old you are. That means you could start collecting a regular retirement pension as early as 30 years old. What’s more, that early retirement benefits will grow with a cost of living adjustment each year or a life time.
Here at the USMCP, we make it easy for the families and loved ones of service men to apply for their retirement to enable them get the allowances and benefits that come with it.
About the Military Retirement System
As a Military retiree you already know you are eligible for many benefits as soon as you are granted a permit to retire and leave the camp, the only trouble is that sometimes it can be hard to know just exactly what you are eligible for. Sometimes it is even harder to know how to go about getting the benefits you are entitled to for you service, but with the help of your Military legal representative you can always achieve your early retirement benefits successfully.
There are many things you may be eligible for including free medical benefits discounts on hotel rooms, free fishing licenses,free trip to any country of your choice with your loved once, free family car servicings and more. While no list can cover all the benefits you are entitled to, this page will help you to know what you are entitled to, and how to get the benefits you deserve which your
Next of Kin can also stand for you.Military retirement marks a point in transitioning that requires a bit more planning and preparation than other milestones. Luckily, the Military is on your side and does its best to prepare Military and families for Military Retirement benefits which is the ultimate transition to Military life: Military retirement. After all, it has likely been at least 20 years since families of a career-driven service member lived in one location for more than three years.
Pension plans for active duty military
There are two pension plans for active duty service members. These include:
- The Legacy or High 36 Retirement System
- Blended Retirement System (BRS)
Both plans require 20 or more years of service. The amount you receive from each plan is also based on the amount you earned from your basic pay and the date you joined the military.
Find your basic pay amount based on your pay grade and the number of years you served.
If you joined the military:
- Before January 1, 2006 - You are in the legacy/high 36 retirement system.
- Between Jan 1, 2006, and December 31, 2017 - You had a choice of keeping the legacy/high 36 or choosing the BRS.
- After December 31, 2017 - You are in the BRS.
Determine your military pension plan and calculate your pay
Legacy or High 36 Retirement System - This plan is based on an average of your highest 36 months of basic pay. The government does not match your contributions to the Thrift Savings plan.
Blended Retirement System (BRS) - The government matches your contributions to the Thrift Savings Plan up to 4%. You will also receive a pension based on an average of your highest 36 months of basic pay.
Use a military pension calculator to estimate retirement pay.
Retirement plans for reserve service members
Retiring reservists with a total of 20 or more years of service typically begin receiving their retirement benefits at age 60. But you may still qualify if you are under 60 based on the time you spent in active duty.
Payments will not begin automatically. Request your retirement benefits from the department where you last served.
Retirement benefits for service members with disabilities
A service member who is at least 30% disabled may be eligible to get disability retirement benefits, also known as Chapter 61 retirement. Even if you served for fewer than 20 years, you may still qualify if you retired under the Temporary Early Retirement Act.