What full retirement age means
Full retirement age is the age at which you can claim your full Social Security benefit amount without any reduction. It is not the age you must claim — you can claim earlier or later — but it is the age Social Security uses to calculate your standard monthly payment.
Your full retirement age depends on the year you were born. If you were born in 1943 or later, your full retirement age is somewhere between 66 and 67. The Social Security Administration sets a specific age for each birth year, and that age determines what your "full" benefit looks like.
The reason this matters: if you claim before your full retirement age, your monthly payment is permanently reduced. If you claim after it, your monthly payment is permanently increased. The difference between claiming at 62 and claiming at 70 can be thousands of dollars per year for the rest of your life.
Key Takeaways
- Full retirement age ranges from 66 to 67 depending on your birth year, and Social Security has published a table showing the exact age for each year.
- Claiming before your full retirement age reduces your monthly benefit by a percentage that depends on how many months early you claim.
- Claiming after your full retirement age increases your monthly benefit by 8 percent per year until you reach age 70.
- Your full retirement age affects not only your own benefit but also the amount your spouse and children can receive based on your record.
- Earnings from work can reduce your benefit if you claim before your full retirement age and continue working.
Full retirement age by birth year
The Social Security Administration increased full retirement age gradually starting with people born in 1943. The table below shows the exact age for each 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 1st of any year, Social Security counts you as born in the previous year for purposes of this table. If you were born between the 2nd and 31st of any month, you use the year shown.
You can find your exact full retirement age on your Social Security statement, which you can view online at ssa.gov if you have created a my Social Security account. You can also call Social Security at 1-800-772-1213 to ask.
How claiming early reduces your benefit
You can claim Social Security as early as age 62, but claiming before your full retirement age means a permanent reduction to your monthly payment. The reduction is not temporary — it applies to every check you receive for the rest of your life.
The reduction depends on how many months before your full retirement age you claim. If your full retirement age is 67 and you claim at 62, you are claiming 60 months early. Social Security reduces your benefit by roughly 30 percent. If you claim at 65, you are claiming 24 months early, and the reduction is roughly 13 percent.
The exact percentage varies slightly depending on your birth year, but the principle is the same: the earlier you claim, the more your monthly payment is reduced. This reduction is permanent and does not increase when you reach your full retirement age or any later age.
How claiming late increases your benefit
If you wait to claim after your full retirement age, your monthly benefit increases by 8 percent for each year you delay, up until age 70. After age 70, the benefit no longer increases, so there is no financial reason to delay past that point.
If your full retirement age is 67 and you wait until 70, you will receive a benefit that is 24 percent higher than your full retirement age amount. Over a long retirement, this larger monthly payment can add up to significantly more total money received.
The trade-off is that you receive fewer checks in total if you die before a certain age. Actuaries call this the "break-even" point — the age at which the larger monthly payments catch up to what you would have received if you had claimed earlier. For most people, this break-even point is in the early 80s, but it varies based on individual health and family history.
How full retirement age affects family benefits
Your full retirement age is not just about your own benefit. It also determines the maximum amount that your spouse, ex-spouse, and children can receive based on your Social Security record.
If you have a spouse who did not work or worked very little, they may be able to receive a benefit based on your record. The amount they can receive depends partly on your full retirement age. Similarly, if you have children under 19 (or 19 if still in high school), they may receive benefits based on your record, and the family maximum is tied to your full retirement age and your benefit amount.
When you claim early, you not only reduce your own benefit but also reduce the amount available to your family members. This is an important consideration if you have dependents who rely on your Social Security record.
Earnings limits if you claim before full retirement age
If you claim Social Security before your full retirement age and continue to work, your benefit may be reduced based on your earnings. This is separate from the permanent reduction for claiming early — it is an additional temporary reduction.
In 2024, Social Security reduces your benefit by $1 for every $2 you earn above $23,400 in the year you claim (this dollar amount changes each year). In the year you reach your full retirement age, the limit is higher, and the reduction applies only to earnings before the month you reach full retirement age.
Once you reach your full retirement age, the earnings limit no longer applies. You can work and earn as much as you want without any reduction to your benefit, regardless of how early you originally claimed.
Frequently Asked Questions
Can I change my mind after I claim Social Security?
Yes, but only within a limited window. If you claimed within the past 12 months, you can withdraw your claim and repay what you received. This resets your record as if you never claimed, and you can claim again later at a higher amount. After 12 months, you cannot withdraw your claim, but you may be able to suspend your benefit at your full retirement age and let it grow until 70.
Does my full retirement age change if I work longer?
No. Your full retirement age is determined by your birth year and does not change based on when you work or retire. However, your benefit amount may increase if you continue working, because Social Security recalculates your benefit based on your highest 35 years of earnings.
What if I was born on the first day of the month?
Social Security treats you as born in the previous year for the purpose of determining full retirement age. So if you were born on January 1, 1960, you use the full retirement age for people born in 1959, which is 66 and 10 months.
Does my full retirement age affect Medicare?
No. Medicare may be able to access begins at age 65 regardless of your full retirement age. You can claim Medicare at 65 and delay Social Security until later if you choose. However, if you delay claiming Social Security past 65, you should still sign up for Medicare to avoid late enrollment penalties.
Can I claim at my full retirement age and still work full-time?
Yes. Once you reach your full retirement age, there is no earnings limit. You can work full-time, earn any amount, and receive your full Social Security benefit with no reduction. This is different from claiming before your full retirement age, when earnings can reduce your benefit.