Verizon Service Pension Eligibility

Receiving Your Benefit

Service Pension Eligibility

Your eligibility to retire and start receiving a service pension depends on your age and net credited service when you terminate employment. 

If you meet any of the following age and net credited service requirements, you may retire on or after that age and receive a service pension. 

Service Pension Eligibility Requirements

Early Retirement With a Service Pension

If you qualify for a service pension, you can retire and start receiving your pension benefit right away. Payments may or may not be reduced for early retirement depending on your age and net credited service as described below.

Unreduced Pension

If you retire with 30 or more years of net credited service, your service pension can be paid in full without reduction for early payment, regardless of your age when you terminate employment.

If you qualify for a service pension and retire because you are totally disabled (as described under "If you Become Disabled"), your service pension will be paid without reduction for early payment.

If you qualify for a service pension and retire when you're age 55 or older, you also can receive your benefit without reduction for early payment.

Example: Service Pension Retirement Benefit

A Service Pension Retirement benefit payable at age 58.5833 assuming last day worked on December 31, 2016, retirement on January 1, 2017 and:

• Pension band number is 124; according to the table, the monthly benefit is $84.60.
• 20 years and 7 months (or 20.5833 years) of pension accrual service at retirement.
• Average amount of supplemental monthly payments during the last 36 months is $1,000.