What age you can start Social Security depends on when you were born
Full retirement age — the age at which you receive your complete monthly benefit — is not 65 anymore. It ranges from 65 to 67 depending on your birth year. You can start collecting as early as 62, but your monthly payment will be permanently smaller. You can also wait until 70 and receive a larger payment. The year you were born determines your full retirement age, and that date matters for how much money you get each month for the rest of your life.
Social Security uses a straightforward formula: the later you start, the more you receive each month. Starting at 62 means roughly 30 percent less per month than waiting until full retirement age. Waiting until 70 means roughly 24 to 32 percent more per month than full retirement age, depending on your birth year. These percentages are fixed by law and do not change.
Key Takeaways
- Your full retirement age is between 65 and 67, determined by your birth year, and is when you receive your complete monthly benefit amount.
- You can start collecting at 62, but your monthly payment will be reduced by roughly 25 to 30 percent for the rest of your life.
- Waiting until 70 increases your monthly payment by roughly 24 to 32 percent compared to your full retirement age amount.
- The Social Security Administration publishes a birth year chart that shows your exact full retirement age and the reduction or increase for starting early or late.
Full retirement age by birth year
Congress set the full retirement age schedule in 1983, and it phases in gradually. If you were born in 1943 or earlier, your full retirement age is 65. If you were born between 1943 and 1954, it increases by two months for each year of birth. If you were born in 1955 or later, your full retirement age is 67.
| Birth Year | Full Retirement Age |
|---|---|
| 1943 or earlier | 65 |
| 1943–1954 | 65 plus 2 months per year (increases gradually) |
| 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 or later | 67 |
The Social Security Administration website includes a detailed birth year chart you can search by your exact birth date. That chart will show your full retirement age down to the month. Knowing your exact full retirement age matters because even a few months' difference changes your monthly payment amount.
How much less you get if you start at 62
Starting at 62 is the earliest you can collect, but the reduction is permanent. If your full retirement age is 66, starting at 62 means you receive roughly 25 percent less per month. If your full retirement age is 67, starting at 62 means you receive roughly 30 percent less per month. The reduction is larger for people with a later full retirement age because they are starting further away from it.
This reduction stays with you for life. If you start at 62 and live to 90, you will still receive the reduced amount every month. The trade-off is that you collect for eight more years. Whether that trade-off makes sense depends on your health, your other income, and whether you need the money now.
How much more you get if you wait until 70
For every year you delay past your full retirement age, your monthly payment increases by roughly 8 percent per year, up until age 70. If your full retirement age is 66 and you wait until 70, your monthly payment will be roughly 32 percent higher. If your full retirement age is 67 and you wait until 70, your monthly payment will be roughly 24 percent higher.
After age 70, your payment does not increase further, so there is no financial reason to delay beyond 70. This increase also stays with you for life. If you start at 70 and live to 95, you will receive the higher amount every month. The trade-off is that you collect for fewer years before you start.
Spousal and survivor benefits have different age rules
If you are married, divorced, or widowed, you may be able to collect on your spouse's or ex-spouse's record. The rules for when you can start are different from the rules for your own record. A surviving spouse can start collecting at 60 (or 50 if disabled). A divorced spouse can start at 62 if the marriage lasted at least 10 years. A widow or widower can start at 60, or at any age if caring for a child under 16.
Your full retirement age for spousal benefits is also different from your full retirement age for your own benefits. The Social Security Administration can explain your options based on your specific situation. You do not have to start your own benefit at the same age you start a spousal benefit, and vice versa.
What happens if you work while collecting before full retirement age
If you start collecting at 62 and continue working, Social Security reduces your monthly payment based on your earnings. In 2024, Social Security reduces your benefit by $1 for every $2 you earn above a certain threshold. That threshold changes each year. Once you reach your full retirement age, the earnings limit no longer applies, and you receive your full reduced benefit regardless of how much you work.
This earnings test is separate from the permanent reduction for starting early. If you start at 62, you get the permanent reduction. If you also earn above the threshold, you get an additional temporary reduction. Once you hit full retirement age, the temporary reduction stops, but the permanent reduction remains.
How to find your exact full retirement age
The Social Security Administration publishes a retirement age calculator and a detailed chart on its website at ssa.gov. You can enter your birth date and it will show your full retirement age to the month. You can also call Social Security at 1-800-772-1213 and ask. A representative can tell you your full retirement age and explain how much you would receive if you started at 62, at your full retirement age, or at 70.
You do not need to make a decision immediately. You can call Social Security to get this information at any time, and the information will not change. Your full retirement age is determined by your birth date and does not depend on when you call or when you decide to start collecting.
Frequently Asked Questions
Can I change my mind after I start collecting?
You can withdraw your claim within 12 months of starting and repay what you received. After 12 months, you cannot withdraw. You can suspend your benefits at full retirement age and let them grow until 70, but you must repay any benefits you already received. The rules are strict, so talk to Social Security before you start if you think you might want to change your mind.
Does my full retirement age change if I work longer?
No. Your full retirement age is determined only by your birth date. Working longer does not change it. Working longer does increase your monthly benefit amount because Social Security recalculates your benefit based on your highest 35 years of earnings, but it does not change the age at which you reach full retirement age.
What if I was born on January 1?
Social Security treats January 1 births as if you were born on December 31 of the previous year. So if you were born on January 1, 1960, Social Security counts you as born in 1959 for the purpose of determining your full retirement age. Check the Social Security Administration's chart or call to confirm your exact age category.
Is there a penalty for starting Social Security early?
The reduction in your monthly payment is permanent, not a penalty. You receive less each month for life. Whether this is a good or bad trade depends on your circumstances. Some people need the money at 62 and that is the right choice. Others can wait and receive more per month. There is no "right" answer for everyone.
Can I collect Social Security if I never worked?
You must have earned enough work credits to be insured. Generally, you need 40 credits, which is roughly 10 years of work. If you did not work that long, you may still be able to collect on a spouse's or ex-spouse's record if you meet other requirements. Call Social Security to find out whether you have enough credits.