This may sound a fanciful scenario, yet recent events across Europe â including the looming independence referendum in Scotland â tell a very different story. Six days ago, the people of Spainâs most prosperous region, Catalonia, voted overwhelmingly for parties favouring the breaking away from Spanish rule.
1 If you are 55 or older and retired, you can withdraw from your TSP without being charged the 10% tax penalty (which is normally tacked onto early withdrawals) in addition to regular income taxes.
deferred, there are rules and restrictions if you retire before a specified age and withdraw money from your account prior to. age 59 Â½ . The TSP is unique in that any Federal employee who retires in the calendar year in which they are 55 or later can. access any and all money in their TSP account without penalty. However, if you retire prior to the year in which you are age. 55 there is a 10% early withdrawal penalty on all withdrawals prior to age 59 Â½ unless you withdraw funds based on. actuarially projected life expectancy.