The military (active duty) retirement system is arguably the best retirement deal around. Unlike most retirement plans, the Armed Forces offer a pension (technically a "reduced compensation for reduced services.") with benefits, that start the day you retire, no matter how old you are. That means you could start collecting a regular retirement pension as early as 37 years old. What's more, that pension check can grow with a cost of living adjustment each year.
Note: The Reserve Component retirement pay system is somewhat different from the active duty. Go to the Military Reserve Component Retirement Pay Overview to learn more.
Determining Your Retirement Payment Rate
If you entered the service:
Click here to learn more about the different retirement plans that are currently available.