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To find out how much your benefit will be reduced if you begin receiving benefits from age 62 up to your full retirement age, use the chart below and select your year of birth. This example is based on an estimated monthly benefit of $1000 at full retirement age.
You can find your full retirement age by choosing your birth year in the calculator below, or by using our retirement age chart. If your birthday is January 1st of any year, enter the previous year because that is how we determine your full retirement age.
The normal retirement age (NRA) is the age at which retirement benefits (before rounding) are equal to the " primary insurance amount ." The table below shows how NRA varies by year of birth for retirees.
You can start receiving your Social Security retirement benefit as early as age 62. But we will reduce your benefits by as much as 30% below what you would get if you waited to begin receiving benefits until your full retirement age.
Aug 7, 2023 · The first step in understanding where Social Security will fit into your retirement plan is to identify your full retirement age. From there, you can use the full retirement age chart to calculate how your benefits would change if you begin taking benefits early or if you delay claiming.
Aug 12, 2024 · The average monthly Social Security benefit for retired workers at age 70 is about $757 more than the average payout at age 62.
The current full retirement age is 67 years old for people attaining age 62 in 2024. (The age for Medicare eligibility remains at 65.) See Benefits By Year Of Birth for more information.
Choosing when to start receiving your Social Security retirement benefits is an important decision that affects your monthly benefit amount for the rest of your life. If you wait until your full retirement age (67 for people who are born in 1960 or later), you will get your full benefit.
Mar 7, 2024 · The full retirement age to receive full Social Security benefits will vary by birth year, ranging from 65 to 67. Claiming Social Security before your full retirement age reduces your...
Jun 21, 2024 · Full retirement age is 66 and 8 months for those born in 1958 and 67 for those born in 1960 or later -- it varies depending on your birth year. It is important to know your full...
