Your full retirement age is the age at which Social Security pays you 100 percent of your benefit — not a day earlier, not a day later.

The age varies by birth year. If you were born in 1943 or earlier, it is 65. If you were born between 1943 and 1954, it rises in two-month increments. If you were born in 1960 or later, it is 67. The Social Security Administration publishes a table showing the exact age for your birth year, and you can find it on their website or by calling 1-800-772-1213.

This matters because claiming before full retirement age reduces your monthly payment permanently. Claiming after it increases your payment by about 8 percent per year until age 70. The choice between claiming early, at full retirement age, or late is one of the largest financial decisions you will make in retirement — and it depends on your health, your other income, and how long you expect to live.

Key Takeaways

  • Full retirement age ranges from 65 to 67 depending on your birth year, and the Social Security Administration has a table showing yours.
  • Claiming before full retirement age reduces your monthly payment by roughly 6 to 7 percent for each year you claim early.
  • Claiming after full retirement age increases your monthly payment by about 8 percent per year, up until age 70.
  • If you work and claim before full retirement age, Social Security reduces your benefit by $1 for every $2 you earn above a yearly limit.

How your birth year determines your full retirement age

Congress changed the full retirement age in 1983, raising it gradually from 65 to 67. The increase happened in two-month steps spread across 22 years. If you were born in 1943 through 1954, your full retirement age falls somewhere between 66 and 66 and 10 months. If you were born in 1955, it is 66 and 2 months. If you were born in 1960 or later, it is 67.

You can find your exact age on the Social Security Administration's "Full Retirement Age" table, which lists every birth year. You can also call Social Security at 1-800-772-1213 and ask. Do not guess — the difference between 66 and 2 months and 66 and 4 months affects your payment for the rest of your life.

What happens if you claim before full retirement age

You can claim Social Security as early as age 62, but your monthly payment will be permanently lower. The reduction is roughly 6 to 7 percent for each year you claim before full retirement age. If your full retirement age is 67 and you claim at 62, you lose about 30 percent of your benefit for life. If you claim at 65, you lose about 13 percent.

This reduction is permanent. If you claim at 62 and receive $1,000 a month, you will receive $1,000 a month (adjusted for cost-of-living increases) for the rest of your life — not $1,000 plus a raise when you turn 67. The only exception is if you withdraw your claim within 12 months of filing and repay all benefits you received; after that window closes, the reduction stays.

There is a second penalty if you work while claiming before full retirement age. Social Security reduces your benefit by $1 for every $2 you earn above a yearly limit. In 2024, that limit is $23,400, but it changes each year. Once you reach full retirement age, this earnings limit disappears entirely, and you can work and collect your full benefit with no reduction.

What happens if you claim at full retirement age

Claiming at full retirement age means you receive 100 percent of your benefit — the amount Social Security calculated based on your 35 highest-earning years. There is no reduction, and there is no earnings penalty if you work. You can work as much as you want and collect your full benefit.

This is the break-even point. If you live to an average age, claiming at full retirement age and claiming early will result in roughly the same total payout over your lifetime — but the timing is different. Claiming early gives you more money sooner; claiming at full retirement age gives you less money sooner but more money later.

What happens if you delay past full retirement age

For every year you delay claiming after full retirement age, your monthly benefit increases by about 8 percent. This increase continues until age 70. If your full retirement age is 67 and you wait until 70, your benefit is roughly 24 percent higher than it would be at 67.

Delayed retirement credits are permanent. If you delay until 70 and receive $1,500 a month, that $1,500 (plus cost-of-living adjustments) is your benefit for life. There is no reason to delay past 70 — the benefit does not increase after that age.

Delaying makes financial sense if you expect to live well into your 80s or 90s, if you have other income to live on, or if you are in good health. It does not make sense if you are in poor health, need the money now, or have limited family history of longevity.

How to find your full retirement age

The Social Security Administration publishes a one-page table showing full retirement age by birth year. You can find it at ssa.gov by searching "full retirement age" or by calling 1-800-772-1213. You can also create a my Social Security account at ssa.gov, which shows your full retirement age, your estimated benefit at different claiming ages, and your earnings record.

When you create a my Social Security account, you will need your Social Security number, email address, and a way to verify your identity — usually a phone number or address on file with the Social Security Administration. The account takes a few minutes to set up and gives you access to your information anytime without calling.

The trade-off between claiming early and claiming late

The decision to claim early, at full retirement age, or late is a trade-off between receiving money sooner versus receiving more money later. There is no objectively correct answer — it depends on your situation.

Claiming early makes sense if you need the money now, if you are in poor health, or if you have limited savings. Claiming at full retirement age is a middle ground if you want to balance receiving income with maximizing your monthly payment. Claiming late makes sense if you are in good health, have other income to live on, or want to leave a larger benefit to a surviving spouse.

One factor many people overlook: if you are married, your spouse may be may have access to to a benefit based on your earnings record. The rules for spousal benefits are complex and depend on both of your ages and claiming decisions. If you are married, it is worth discussing your claiming strategy with your spouse before you decide.

Frequently Asked Questions

Can I work after I reach full retirement age and still get my full benefit?

Yes. Once you reach full retirement age, there is no earnings limit. You can work full-time and collect your full Social Security benefit with no reduction. If you claim before full retirement age, the earnings limit still applies — Social Security reduces your benefit by $1 for every $2 you earn above the yearly limit.

What if I claim early and then change my mind?

You can withdraw your claim within 12 months of filing and repay all benefits you received. After that window closes, you cannot undo the reduction. If you are past the 12-month window, you can suspend your benefits once you reach full retirement age and let them grow, but this is rarely worth doing.

Does my full retirement age affect Medicare?

No. Medicare may be able to access starts at age 65 regardless of your Social Security full retirement age. You can claim Social Security at 62 and wait until 65 to enroll in Medicare, or vice versa. The two programs are separate.

What if I was born outside the United States?

Your full retirement age is the same as anyone else born in your year. You must have a valid Social Security number and meet work requirements, but your birthplace does not change when full retirement age begins. Contact Social Security directly if you have questions about your specific situation.

Does my full retirement age change if I become disabled?

No. Your full retirement age is fixed based on your birth year. If you receive Social Security Disability Insurance (SSDI), your benefit converts to a retirement benefit at full retirement age, but the age itself does not change.