26 Nov Can I get unemployment and retirement benefits at the same time?

Q. Can you receive unemployment benefits if you are laid off but receiving retirement benefits from a previous employer? The current employer is in the same facility but under a completely different ownership.
— Jobless

A. We’re sorry to hear you’ve lost your job.

And we wish you greener pastures.

To your question, yes, you may be able to receive unemployment in New Jersey if you have a pension, but there are some caveats and the benefit amount might be reduced as a result, said Claudia Mott, a certified financial planner with Epona Financial Solutions in Basking Ridge.

In order to qualify and submit a claim, an individual must have earned a minimum of $303 per week for 20 weeks during the base period or at least $15,200 in 2025, she said.

“The base period is counted as the first four quarters of a five-quarter period which ends on the date you submit your claim,” she said.

The State of New Jersey pays a maximum of 60% of average wages for 26 weeks, with a cap on payments of $875 per week or $22,750, she said.

Your pension may reduce the amount you receive for unemployment.

“New Jersey requires that unemployment be reduced by 100% of the value of your weekly pension payment if contributions to the pension fund were made solely by your employer,” she said. “The reduction is 50% if both you and your employer contributed and there is no reduction if your employer made no contributions.”

If your weekly pension payment exceeds the cap the state will pay ($875) and the plan was 100% employer funded, your state unemployment benefit could be eliminated, Mott said. However, if you paid 100% of the pension, your benefits will not be reduced, she said.

“Please contact the New Jersey Department of Labor to discuss the specifics of your pension and how it might impact your benefits by visiting their website www.myunemployment.nj.gov to obtain the phone number for your regional office,” she said.

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This story was originally published in November 2025.

NJMoneyHelp.com presents certain general financial planning principles and advice, but should never be viewed as a substitute for obtaining advice from a personal professional advisor who understands your unique individual circumstances.