What the full retirement age is and how it affects your benefits

Your full retirement age is the age at which Social Security calculates your benefit as 100 percent of what you earned. It is not the earliest age you can claim — that is 62 — and it is not the latest. It is the middle point Social Security uses to do the math.

The full retirement age changed because Congress passed the Social Security Amendments of 1983. That law raised the full retirement age gradually, starting with people born in 1938 or later. The change happened in two-year steps over 27 years. If you were born between 1943 and 1954, your full retirement age is 66. If you were born in 1960 or later, it is 67. People born between those years have a full retirement age somewhere in between — 66 and a few months, 66 and 8 months, and so on.

The reason Congress changed it was that people were living longer, and the program's costs were rising faster than its income. Raising the full retirement age meant people would work longer before claiming, or claim smaller benefits if they claimed early. It was a way to make the program's money last longer.

Key Takeaways

  • Full retirement age is the age Social Security uses to calculate your benefit at 100 percent — it ranges from 66 to 67 depending on your birth year.
  • Congress raised the full retirement age in 1983 because people were living longer and the program needed to reduce costs.
  • You can claim as early as 62, but your benefit will be permanently smaller than it would be at full retirement age.
  • If you delay claiming past your full retirement age, your benefit grows by about 8 percent per year until age 70.
  • Your birth year determines your full retirement age — it is not something you choose or that changes after you turn it.

How your birth year determines your full retirement age

Social Security uses a table based on your birth year. The table starts with people born in 1937 or earlier, whose full retirement age is 65. From there, it steps up in two-month increments for each birth year, until it reaches 67 for people born in 1960 or later.

If you were born in 1938, your full retirement age is 65 and 2 months. If you were born in 1939, it is 65 and 4 months. This pattern continues through 1954, when it reaches 66. Then it steps up again in two-month increments from 1955 through 1959, reaching 67 for anyone born in 1960 or later.

You can find your exact full retirement age on the Social Security Administration website, or by calling 1-800-772-1213. You do not need to calculate it yourself — Social Security will tell you the exact month and year when you contact them about your account.

What happens if you claim before your full retirement age

You can claim Social Security as early as age 62, but your benefit will be smaller than it would be at your full retirement age. The reduction is permanent — it does not go away when you reach full retirement age. If you claim at 62 and your full retirement age is 67, you will receive roughly 70 percent of your full benefit for the rest of your life.

The exact reduction depends on how many months early you claim. Claiming one year early costs you about 6.7 percent per year. Claiming five years early (from 67 to 62) costs you about 30 percent. The math is different if your full retirement age is 66 instead of 67, but the principle is the same: the earlier you claim, the less you receive each month.

People often claim early because they need the money now, or because they are unsure they will live long enough to break even by waiting. There is no single right answer — it depends on your health, your savings, and whether you have other income. But the trade-off is real: you get money sooner, but less of it each month.

What happens if you delay claiming past your full retirement age

If you wait to claim after your full retirement age, your benefit grows. For each year you delay, your benefit increases by roughly 8 percent per year. This increase stops at age 70 — there is no benefit to waiting past 70.

If your full retirement age is 67 and you wait until 70, you will receive about 124 percent of your full benefit each month. That higher amount is also permanent — it stays with you for life. If you are married, your spouse may also receive a higher benefit based on your delayed claim, though the rules for that are complex and depend on when your spouse was born.

Delaying makes sense if you are in good health, have other savings to live on, and expect to live well into your 80s or 90s. It also makes sense if you are still working and earning enough that claiming would reduce your benefit anyway (Social Security reduces benefits if you earn above a certain amount before reaching full retirement age).

How the 1983 change affects different age groups today

If you were born before 1938, the 1983 change does not affect you — your full retirement age is 65. If you were born between 1938 and 1954, your full retirement age is somewhere between 65 and 2 months and 66. If you were born between 1955 and 1959, your full retirement age is between 66 and 2 months and 66 and 10 months. If you were born in 1960 or later, your full retirement age is 67.

The change means that people born after 1954 will work two years longer before reaching full retirement age than people born in 1937. Over a lifetime, this can mean a significant difference in total benefits received, though it also means higher monthly payments for those who do wait until full retirement age.

Congress has not raised the full retirement age again since 1983, though some policy discussions have included proposals to do so. For now, 67 is the highest full retirement age for anyone born in 1960 or later.

The difference between full retirement age and other key ages

Social Security involves several ages, and they mean different things. Your earliest claiming age is 62 — you cannot claim before then, no matter what. Your full retirement age is when Social Security pays you 100 percent of your benefit. Your delayed retirement age is 70 — the age at which waiting longer no longer increases your benefit.

There is also your normal retirement age, which is the same as full retirement age. Some older documents use "normal retirement age" instead, but they mean the same thing. And there is your primary insurance amount, which is the technical name for your benefit at full retirement age — it is what Social Security uses to calculate your actual payment.

Understanding these ages matters because they determine how much you receive and when you can receive it. Claiming at 62 instead of 67 might mean $500 less per month for the rest of your life. Waiting until 70 instead of 67 might mean $500 more per month. Those differences add up over decades.

Frequently Asked Questions

Can I work past my full retirement age and still get my full benefit?

Yes. Once you reach your full retirement age, you can earn as much as you want and still receive your full Social Security benefit. Before full retirement age, Social Security reduces your benefit by $1 for every $2 you earn above a limit (the limit changes each year). At full retirement age, that reduction stops.

Does my full retirement age change if I delay claiming?

No. Your full retirement age is fixed based on your birth year — it does not change no matter when you claim. If your full retirement age is 67, it stays 67 whether you claim at 62 or 70. What changes is the amount you receive each month.

What if I was born on January 1 — which year's rules explore to me?

If you were born on January 1, Social Security treats you as if you were born on December 31 of the previous year. So if you were born on January 1, 1955, your full retirement age is based on the 1954 birth year rules, which means 66.

Will Congress raise the full retirement age again?

Congress has not raised it since 1983, and there is no current law to raise it further. However, policy discussions about Social Security's long-term finances sometimes include proposals to do so. Any change would likely affect people not yet born or very young, and would be phased in gradually over many years.

Does my full retirement age affect when I can claim Medicare?

No. Medicare may be able to access is based on age 65, not on your full retirement age. You can sign up for Medicare at 65 regardless of your full retirement age or when you claim Social Security. However, if you claim Social Security before 65, you should still sign up for Medicare at 65 to avoid paying a penalty.