FERS Retirement Calculator 2026 — Calculate Your Federal Pension in Minutes
8 min read
What is FERS?
The Federal Employee Retirement System is the retirement plan covering most federal civilian employees hired after December 31, 1983. It replaced the older Civil Service Retirement System and is built on three pillars — your FERS pension, your Thrift Savings Plan, and Social Security. All three working together are designed to replace a significant portion of your pre-retirement income, but understanding each piece separately is essential to planning effectively.
FERS covers approximately 2.7 million active federal employees across every agency and department. If you were hired as a civilian federal employee after 1983 and are not in a special category like law enforcement or firefighting, FERS is your retirement system.
How is the FERS Pension Calculated?
Your FERS pension is calculated using a straightforward formula:
The multiplier is either 1% or 1.1% — if you retire at age 62 or older with at least 20 years of service you receive the higher 1.1% multiplier. For example: 25 × 1.1% × $95,000 = $26,125 per year or $2,177 per month.
Try the live numbers in our FERS Retirement Calculator.
What is the Minimum Retirement Age?
Your MRA is the earliest age you can retire and receive an immediate FERS pension.
| Birth Year | Minimum Retirement Age |
|---|---|
| Before 1948 | 55 |
| 1948 | 55 yrs 2 mo |
| 1949 | 55 yrs 4 mo |
| 1950 | 55 yrs 6 mo |
| 1951 | 55 yrs 8 mo |
| 1952 | 55 yrs 10 mo |
| 1953–1964 | 56 |
| 1965 | 56 yrs 2 mo |
| 1966 | 56 yrs 4 mo |
| 1967 | 56 yrs 6 mo |
| 1968 | 56 yrs 8 mo |
| 1969 | 56 yrs 10 mo |
| 1970 and later | 57 |
To retire at MRA with a full immediate pension you need 30 years of service. With 20 years you can retire at 60. With 5 years you can retire at 62. MRA+10 retirees with 10–29 years face a 5% reduction per year under age 62.
What is the FERS Supplement?
The FERS Supplement bridges the income gap for employees who retire on an immediate retirement before age 62. It stops automatically when you turn 62 and Social Security becomes available. Our FERS Retirement Calculator automatically estimates your supplement amount.
What is the High-3 Average Salary?
Your High-3 is the average of your highest three consecutive years of basic pay — almost always your final three years. It includes base salary and locality pay but excludes bonuses and overtime. Maximizing your High-3 by timing promotions in your final three years is one of the most effective ways to increase your pension.
How Does Your TSP Factor In?
Your TSP is the second pillar of FERS retirement. The government matches up to 5% of your basic pay — never leave this on the table. At retirement the 4% safe withdrawal rule applies — a $300,000 TSP generates $12,000 per year. A $500,000 balance generates $20,000 per year. Plug your balance into the FERS Retirement Calculator to see your full income picture.
Will Your Pension Keep Up With Inflation?
FERS COLAs are based on CPI-W. Retirees under 62 receive no COLA. Ages 62–64 receive COLA minus 1%. Age 65 and older receive full COLA. At 2% average annual COLA a $2,177 monthly pension grows to $2,403 after five years and $2,657 after ten years.
Know Your Number Before You Need It
The biggest mistake federal employees make is waiting until eighteen months before retirement to run these numbers. Use our free FERS Retirement Calculator to get your pension estimate, income replacement rate, and gap analysis in under two minutes. If results show a gap our HYSA comparison and insurance comparison pages can help you build the bridge.
VetWallet Editorial Team · Updated May 2026
This article is for educational purposes only. Actual FERS benefits are determined by OPM based on your official service history. Consult your agency HR Benefits office for official estimates.