Full retirement age has reached its final increase
The year you reach full retirement age — the age at which Social Security pays you your complete benefit amount — stopped increasing in 2023. For anyone born in 1960 or later, full retirement age is 67 and will not change again. This is the end of a gradual shift that began in 1983, when Congress raised the age from 65 to account for longer lifespans.
If you were born before 1960, your full retirement age is younger than 67. The exact year depends on your birth year, and knowing it matters because claiming before full retirement age reduces your benefit permanently, while waiting past it increases your benefit each year you delay.
Key Takeaways
- Full retirement age is 67 for anyone born in 1960 or later, and this age will not increase further.
- If you were born between 1943 and 1959, your full retirement age is between 66 and 66 months, depending on your exact birth year.
- Claiming Social Security before your full retirement age permanently reduces your monthly benefit, even if you live into your 90s.
- Delaying your claim past full retirement age increases your benefit by roughly 8 percent per year until age 70.
- Your full retirement age affects how much you lose or gain by claiming early or late, but it does not prevent you from claiming at any age between 62 and 70.
What full retirement age means for your benefit amount
Your full retirement age is the Social Security Administration's reference point for calculating your benefit. If you claim at that age, you receive 100 percent of your calculated benefit. Claim before it, and your benefit is permanently reduced. Claim after it, and your benefit grows.
The reduction for early claiming is steep. If your full retirement age is 67 and you claim at 62, you lose roughly 30 percent of your benefit for life. If you claim at 65, you lose roughly 13 percent. The exact reduction depends on how many months early you claim, and Social Security applies it for the rest of your life — even if you live to 95 and would have received more total money by waiting.
Conversely, if you delay past 67, your benefit grows by roughly 8 percent per year. At 70, your benefit is about 24 percent higher than it would be at 67. After 70, it stops growing, so there is no financial reason to delay beyond that age.
Full retirement age by birth year
| Born in | 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 or later | 67 |
If you were born on January 1, use the prior year's age. Social Security calculates your full retirement age based on your birth month and year, so if you were born in 1955, your full retirement age is not simply 66 — it is 66 and 2 months. This matters when you are deciding whether to claim early, because even a few months of delay can change your benefit amount.
You can find your exact full retirement age by looking at the table above and matching your birth year. If you were born between two years listed, find the row for your birth year. The Social Security Administration also provides a calculator on ssa.gov if you want to confirm your age.
How the increase happened and why it stopped
In 1983, Congress passed a law that gradually raised full retirement age from 65 to 67. The change was phased in over many years so that people already near retirement would not be affected. The first people to experience the full increase were those born in 1960, who reached age 67 as their full retirement age starting in 2027.
The increase was designed to reflect the fact that people were living longer and collecting benefits for more years than they had in 1935, when Social Security began. By raising the age, Congress intended to keep the program's finances more stable. However, Congress has not raised it again since 1983, and there is no automatic mechanism to raise it further. Any future increase would require a new law passed by Congress.
Claiming before or after full retirement age
You can claim Social Security as early as age 62, but your benefit will be permanently reduced. You can also wait until age 70, and your benefit will be permanently increased. Full retirement age is simply the middle point — the age at which you receive your full calculated benefit with no reduction or increase.
The decision to claim early, at full retirement age, or late depends on your health, life expectancy, financial needs, and whether you are still working. If you claim before full retirement age and continue to work, Social Security will also reduce your benefit if your earnings exceed a certain amount. In 2024, that limit is $23,400 per year. Once you reach full retirement age, there is no earnings limit, and you can work and collect your full benefit at the same time.
If you are married, your full retirement age also affects your spouse's benefit. A spouse can receive up to 50 percent of your full retirement age benefit, but that amount is reduced if they claim before their own full retirement age. Divorced spouses may also be may have access to to benefits based on your work record, and the same rules apply.
Why full retirement age matters even if you claim early
Even if you plan to claim at 62, knowing your full retirement age is important because it determines how much you lose. The younger your full retirement age, the less you lose by claiming at 62 — but you still lose something. If your full retirement age is 66, claiming at 62 costs you roughly 25 percent of your benefit. If your full retirement age is 67, it costs roughly 30 percent. The difference adds up over decades.
Your full retirement age also matters for government benefits you may receive. If you receive a pension from work that was not covered by Social Security — such as some government jobs — your Social Security benefit may be reduced by the Windfall Elimination Provision. The reduction is calculated differently depending on your full retirement age. Similarly, if you are a spouse or ex-spouse receiving benefits, your full retirement age affects how much you can receive.
Planning your claim strategy around full retirement age
Many people assume they should claim at full retirement age, but that is not always the best choice. If you are in good health and expect to live into your 80s or 90s, waiting past full retirement age can result in more total money over your lifetime. If you have health concerns or need money now, claiming at 62 may make sense even though your monthly benefit is smaller.
Social Security offers a Statement that shows your estimated benefit at different ages — 62, full retirement age, and 70. You can create an account at ssa.gov to view your Statement and see how much you would receive at each age. This tool can help you compare scenarios and decide what makes sense for your situation.
If you are married or divorced, the decision becomes more complex because your spouse's or ex-spouse's benefit may depend on when you claim. Some couples benefit from one person claiming early while the other waits, but the rules have changed in recent years and the old strategy of "file and suspend" is no longer available. A financial advisor or Social Security expert can help you model different scenarios.
Frequently Asked Questions
Can I still claim Social Security at 62 even though full retirement age is 67?
Yes. Full retirement age is not a minimum age — it is the age at which you receive your full benefit. You can claim as early as 62, but your benefit will be permanently reduced. You can also wait until 70, and your benefit will be permanently increased.
Does full retirement age affect when I can start receiving Medicare?
No. Medicare may be able to access starts at 65 for most people, regardless of your full retirement age. You should sign up for Medicare at 65 even if you have not yet claimed Social Security. If you delay Social Security past 65, you can still claim Medicare at 65 without affecting your Social Security benefit.
If I was born in 1960, is my full retirement age definitely 67?
Yes. Anyone born in 1960 or later has a full retirement age of 67. This age will not increase further. If you were born before 1960, your full retirement age is younger — check the table above to find your exact age based on your birth month and year.
What happens if I claim Social Security before my full retirement age and then change my mind?
You can withdraw your claim within 12 months of claiming and repay all the benefits you received. After 12 months, you cannot withdraw your claim. If you are past full retirement age and want to increase your benefit, you can suspend your benefits and let them grow, but this option is limited and has specific rules.
Does working longer affect my full retirement age?
No. Your full retirement age is determined by your birth year and does not change based on when you work or retire. However, working longer can increase your benefit amount because Social Security calculates your benefit based on your 35 highest-earning years. If you work past full retirement age, you may replace a lower-earning year with a higher one.