How Your Birth Year Determines Your Full Retirement Age
Your full retirement age — the age at which Social Security pays you 100 percent of your benefit — depends on the year you were born. The Social Security Administration raised this age gradually starting in 1983, moving it from 65 to 67 for people born in 1960 or later. If you were born between 1943 and 1954, your full retirement age is 66. If you were born in 1960 or later, it is 67.
This matters because claiming before your full retirement age means a smaller monthly check for life. Claiming after your full retirement age means a larger monthly check. The difference is permanent — you do not get a raise later to catch up. Understanding your birth year's full retirement age helps you decide when to claim and what to expect.
Key Takeaways
- Full retirement age ranges from 65 to 67 depending on birth year, and Social Security pays you 100 percent of your benefit only at that age.
- Claiming at 62 (the earliest possible age) reduces your monthly benefit by roughly 25 to 30 percent, depending on your birth year.
- Delaying your claim past full retirement age increases your monthly benefit by 8 percent per year, up to age 70.
- Your birth year chart shows both your full retirement age and the reduction or increase you receive for claiming early or late.
Full Retirement Age by Birth Year
| Birth Year | Full Retirement Age |
|---|---|
| 1943–1954 | 66 |
| 1955 | 66 and 2 months |
| 1956 | 66 and 4 months |
| 1957 | 66 and 6 months |
| 1958 | 66 and 8 months |
| 1959 | 66 and 10 months |
| 1960 and later | 67 |
If you were born on January 1 of any year, Social Security counts you as born in the previous year for these purposes. For example, if you were born on January 1, 1955, your full retirement age is 66, not 66 and 2 months.
The gradual increase in full retirement age reflects longer life expectancy since the program began. Each birth cohort born after 1954 faces a slightly higher full retirement age, with the increase capping at 67 for anyone born in 1960 or later. This change was written into law in 1983 and has remained stable since then.
How Much You Lose by Claiming at 62
Age 62 is the earliest you can claim Social Security retirement benefits. Claiming then means a permanent reduction to your monthly payment. The reduction depends on your birth year and how many months before your full retirement age you claim.
If your full retirement age is 66, claiming at 62 reduces your benefit by about 25 percent. If your full retirement age is 67, claiming at 62 reduces your benefit by about 30 percent. These reductions are permanent — your benefit does not increase later to match what you would have received at full retirement age.
For example, if your full retirement age is 67 and your full benefit would be $2,000 per month, claiming at 62 would give you roughly $1,400 per month for life. If you live to 80, you will have received less total money than if you had waited until 67, even though you started collecting earlier. The break-even point — where waiting until 67 pays more total money over your lifetime — typically occurs in your early 80s.
How Much You Gain by Claiming After Full Retirement Age
For every year you delay claiming past your full retirement age, your monthly benefit increases by 8 percent. This increase stops at age 70 — there is no benefit to waiting past 70.
If your full retirement age is 67 and your full benefit is $2,000 per month, waiting until 70 gives you roughly $2,480 per month. That 24 percent increase (three years times 8 percent) lasts for the rest of your life. The longer you live, the more total money you receive by waiting.
Delayed retirement credits apply only to your own benefit. If you are married and claiming on your spouse's record, different rules apply, and you should speak with Social Security directly about your situation.
What Happens If You Claim Between 62 and Your Full Retirement Age
You can claim at any age between 62 and 70. The reduction or increase is calculated month by month. If your full retirement age is 67 and you claim at 64, you are claiming 36 months early, which reduces your benefit by roughly 20 percent.
Social Security has an online calculator that shows your specific reduction based on your birth date and the age you choose to claim. You can also call Social Security at 1-800-772-1213 to speak with a representative who can walk through the numbers for your situation.
Earnings Limits If You Claim Before Full Retirement Age
If you claim before your full retirement age and continue working, Social Security reduces your benefit if your earnings exceed a limit. In 2024, that limit is $23,400 per year. For every $2 you earn above that limit, Social Security withholds $1 from your benefit.
This earnings limit applies only in the year you reach full retirement age and only to earnings before the month you reach full retirement age. Once you reach your full retirement age, you can earn any amount without a reduction to your benefit. The withheld money is not lost — Social Security recalculates your benefit at full retirement age to account for the months you did not receive a payment.
How to Find Your Exact Full Retirement Age
The Social Security Administration publishes a detailed chart on its website showing full retirement age by birth date. You can also create a my Social Security account at ssa.gov to view your personal earnings record and see what Social Security estimates your benefit will be at different claiming ages.
Your Social Security statement, which you can request online or receive by mail, also lists your full retirement age. If you have questions about your specific situation — for example, if you were born outside the United States or have a complex work history — Social Security representatives can answer them over the phone at 1-800-772-1213.
Frequently Asked Questions
Can I change my mind after I claim Social Security?
If you claimed within the last 12 months, you can withdraw your claim and reapply later at a higher age. You must repay all benefits you received. After 12 months, you cannot withdraw, but you can suspend your benefit at full retirement age and let it grow until 70, though this is rarely the best choice.
Does my birth year affect Medicare may be able to access?
No. You become may be able to access for Medicare at 65 regardless of your birth year or when you claim Social Security. You can claim Social Security at 62 and wait until 65 to enroll in Medicare, or vice versa. They are separate programs with separate ages.
What if I was born on the first day of the month?
Social Security counts you as born in the previous year for full retirement age purposes. If you were born January 1, 1957, your full retirement age is 66 and 6 months, not 66 and 8 months.
Does my spouse's birth year affect my benefit?
Your own birth year determines your full retirement age for your own benefit. If you claim on your spouse's record, different rules apply, and your spouse's birth year and claiming age matter. Contact Social Security to understand spousal benefits for your situation.