Members can retire with a lifetime benefit as early as age 50 once they have acquired 5 years of service credits. At the rate of three percent per year from age sixty to age sixty-five and five percent per year from age fifty to age sixty.There is no legal retirement age, and employers can no longer force their employees to retire at a particular age. Whatever your age, retirement planning is vital. And that includes deciding where you're going to spend your retirement, either full-time or as a snowbird. If you are at least 50 years of age and have five or more years of credited service, you are eligible for early retirement. For retirement benefits to be processed the employer must send the Advanced Notification of Retirement form to the Pensions Office as soon as possible. What is retirement age in the UK? Can I retire early due to ill health? What is retirement age in the UK?