The full retirement age for Social Security has risen and will continue to rise depending on your birth year

Social Security's full retirement age — the age at which you receive your complete monthly benefit — is not fixed. It has already increased from 65 for people born before 1938, and it continues to climb for people born after 1954. The shift happened because Congress changed the law in 1983 to address the program's long-term funding. If you were born in 1960 or later, your full retirement age is 67. If you were born between 1943 and 1954, your full retirement age falls somewhere between 66 and 67, depending on your exact birth year.

This matters because claiming before your full retirement age means a permanently lower monthly payment. Claiming after it means a permanently higher one. The difference between claiming at 62 and claiming at 70 can be tens of thousands of dollars over your lifetime, so understanding your own full retirement age is the first step in deciding when to claim.

Key Takeaways

  • Full retirement age has risen from 65 to 67 for people born in 1960 or later, and it will not rise further.
  • If you claim before your full retirement age, your monthly benefit is reduced permanently — the reduction is roughly 6 to 7 percent per year you claim early.
  • If you delay claiming past your full retirement age, your benefit increases by roughly 8 percent per year until age 70, when the increase stops.
  • You can find your specific full retirement age on your Social Security statement or by using the Social Security Administration's online calculator.
  • Earning income before your full retirement age can reduce your benefit temporarily, but only in the year you claim and only if you earn above a certain threshold.

How the full retirement age schedule works by birth year

The Social Security Administration uses a table based on your birth year to determine your full retirement age. If you were born in 1943 to 1954, your full retirement age is somewhere between 66 and 66 months, depending on the exact year. For example, someone born in 1943 has a full retirement age of 66; someone born in 1950 has a full retirement age of 66 and 8 months. The schedule then jumps: anyone born in 1955 to 1959 has a full retirement age of 66 and 2 to 10 months respectively. Anyone born in 1960 or later has a full retirement age of 67, and that age will not increase further.

You can look up your birth year on the Social Security Administration's official table, or you can log into your my Social Security account online at ssa.gov. Your account shows your full retirement age, your estimated benefit at different claiming ages, and your earnings record. Creating an account takes a few minutes and requires a valid email address and phone number.

What happens to your benefit if you claim early

If you claim Social Security before your full retirement age, your monthly benefit is reduced. The reduction is permanent — it does not go away when you reach your full retirement age. The exact reduction depends on how many months early you claim. If your full retirement age is 67 and you claim at 62, you are claiming 60 months early, and your benefit is reduced to roughly 70 percent of what you would receive at 67. If you claim at 65, your benefit is reduced to roughly 86 percent.

The earliest you can claim is 62, regardless of your birth year. Some people claim at 62 because they need the money now, or because they do not expect to live long enough to break even by waiting. Others claim early because they are no longer working and want to start receiving benefits. There is no penalty for claiming early beyond the permanent reduction to your monthly payment.

What happens to your benefit if you delay past full retirement age

If you wait to claim Social Security past your full retirement age, your monthly benefit increases. The increase is roughly 8 percent per year. If your full retirement age is 67 and you wait until 68, your benefit is roughly 108 percent of your full retirement age amount. If you wait until 70, your benefit is roughly 124 percent. The increase stops at 70 — there is no additional benefit for waiting past 70.

Delaying makes the most financial sense if you expect to live into your mid-80s or beyond, because the higher monthly payment eventually adds up to more total money than you would have received by claiming earlier. However, delaying also means going without income for several years, which is not realistic for everyone. Some people work longer specifically to delay their claim, while others have already stopped working and cannot afford to wait.

How earnings affect your benefit before full retirement age

If you claim Social Security before your full retirement age and you continue to work, your benefit may be temporarily reduced based on your earnings. This is called the earnings test. In 2024, if you earn more than $23,400 in the year you claim (the threshold changes yearly), Social Security withholds $1 in benefits for every $2 you earn above that amount. This reduction only applies in the year you claim and only until the month you reach your full retirement age.

Once you reach your full retirement age, the earnings test no longer applies, even if you continue to work and earn a high income. Your benefit is not reduced no matter how much you earn. This is an important distinction: the earnings test is temporary and only affects people who claim before their full retirement age. If you are still working and thinking about claiming early, ask yourself whether the earnings test will reduce your benefit enough to make claiming later a better choice.

Why Congress changed the full retirement age in 1983

In the early 1980s, Social Security's trust fund was projected to run out of money within a few years. Congress passed the Social Security Amendments of 1983 to shore up the program's finances. One major change was gradually raising the full retirement age from 65 to 67. The reasoning was that people were living longer than they had in 1935 when Social Security began, so the program needed to adjust.

The change was phased in over many years so that people already retired or close to retirement would not be affected. People born before 1938 kept a full retirement age of 65. The age then increased by two months per year for people born between 1943 and 1954, and it settled at 67 for people born in 1960 and later. Congress did not raise the age further after 1983, though there have been periodic proposals to do so.

Frequently Asked Questions

Can I find out my full retirement age without creating a Social Security account?

Yes. The Social Security Administration publishes a table on its website showing full retirement age by birth year. You can also call Social Security at 1-800-772-1213 and speak to a representative who will tell you your full retirement age based on your birth date. The online table is faster if you just need the number.

If I claim at 62, will my benefit ever increase to the full retirement age amount?

No. The reduction is permanent. Your monthly payment will be the same at 62 as it is at 67 or 75 — it does not increase when you reach your full retirement age. However, your benefit does increase with cost-of-living adjustments each year, which apply to everyone receiving benefits.

What if I was born in 1954 or 1955 — how do I know my exact full retirement age?

The Social Security Administration's official table breaks down the full retirement age by month of birth for people born between 1943 and 1959. If you were born in 1954, your full retirement age is 66 and 8 months. If you were born in 1955, it is 66 and 10 months. Check the table on ssa.gov or call 1-800-772-1213 to confirm your specific age.

Does the earnings test apply if I claim at my full retirement age?

No. The earnings test only applies if you claim before your full retirement age. Once you reach your full retirement age, you can earn any amount without any reduction to your Social Security benefit, regardless of whether you are still working.