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.
1 Keeping Your Money in the TSP. 2  If you want to keep your money in the TSP after you retire, you have three options: 3  A single lump sum withdrawal. 4  If you choose this option itâs important to remember that the money is pre-tax, so youâll need to be aware of the amount of taxes youâll get hit with.