You must file a return for 2016 if: You have to pay tax for 2016. We sent you a request to file a return. You and your spouse or common-law partner elected to split pension income for 2016. See lines 115, 116, 129, and 210. You received working income tax benefit advance payments in 2016.
The minimum number of points to be eligible for retirement at the age of 60 with 20 qualifying years of service is 1,000 (50 points per year) with a corresponding retirement pay equal to 6.94 percent (1,000/360 x 2.5=6.94%) of basic pay.
Benefit formula. There are three ways to compute reserve retirement, which is based on when you first entered military service (not just reserve service). If you have 20 qualifying years of service and your initial date of entry is: â¦ Before Sept. 8, 1980, divide the number of retirement points by 360.