You can choose to retire when it’s right for you, but make sure you understand the trade-off.
If you leave Hess at age 65 or older, you may start receiving your pension immediately without a reduction. Your pension does not begin until you actually retire, so if you continue to work at Hess after age 65, you will continue to accumulate additional pension benefits and will receive a higher benefit based on additional years of Credited Service.
You are eligible for early retirement from Hess if, on your last day of employment, you are 55 to 65 years of age and have at least 10 years of vesting service. Please keep in mind that if you start receiving your pension before age 60, the monthly amount is reduced to take into account the additional years of payment.
Terminated Vested Participant
If you are 55 to 65 years of age on your last day of employment with at least five but less than 10 years of vesting service, you are eligible to start your Hess pension payments at age 65.