Social Security Retirement Age Chart

Creating a detailed Social Security Retirement Age Chart requires understanding how the retirement age is defined in the U.S. Social Security system. The retirement age varies depending on the year of birth, affecting when a person can begin receiving full retirement benefits.

Here’s a simplified chart based on birth year and the corresponding full retirement age:

Year of BirthFull Retirement Age
1937 or earlier65 years
193865 years and 2 months
193965 years and 4 months
194065 years and 6 months
194165 years and 8 months
194265 years and 10 months
1943–195466 years
195566 years and 2 months
195666 years and 4 months
195766 years and 6 months
195866 years and 8 months
195966 years and 10 months
1960 or later67 years

Key Points:

  • Early Retirement: You can start receiving Social Security retirement benefits as early as age 62, but doing so may reduce your benefits by as much as 30%.
  • Delayed Retirement: If you delay your retirement beyond your full retirement age, you can increase your Social Security retirement benefits by a certain percentage until age 70.

This chart gives a quick reference to determine your full retirement age based on your year of birth, which is crucial for planning when to start taking Social Security benefits to maximize returns.

Frequently Asked Questions (FAQs)

Q: What is my full retirement age if I was born in 1957?

Answer: My full retirement age is 66 years and 6 months. I found this out by checking the Social Security Retirement Age Chart, which helped me plan when to start collecting benefits to avoid any reductions.

Q: Can I still work while receiving Social Security retirement benefits at age 62? 

Answer: Yes, I started receiving benefits at 62, but I continued working part-time. Be aware that if you earn more than the yearly earnings limit, your Social Security benefits may be reduced.

Q: How do delayed retirement credits affect my Social Security benefits if I retire after my full retirement age?

Answer: I waited until I was 70 to start collecting Social Security, which increased my benefits due to delayed retirement credits. These credits add a certain percentage to my monthly benefit for each year I delay past my full retirement age.

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Q: What happens if I claim Social Security before reaching my full retirement age? 

Answer: I claimed Social Security at 64 and noticed a reduction in my monthly benefits. Claiming before your full retirement age results in permanently reduced benefits based on how early you start them.

Q: How can I find out the exact amount my Social Security benefits will be reduced if I retire early?

Answer: I used the online calculators provided by the Social Security Administration to estimate my reduced benefits when considering early retirement. It’s a great tool to understand the financial impact of retiring before reaching my full retirement age.

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