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 â Early Thrift Savings Plan Withdrawals. Although federal employees are entitled to make a TSP withdrawal at any time, if you do so before reaching the age of 59Â½ you will have to pay the 10% IRS penalty in addition to income tax.