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Benefits Planner: Retirement | Retirement Age and Benefit Reduction

U.S. Social Security Administration (SSA)

Claims Supported by This Source

  1. U.S. Social Security retirement benefits can be received starting at age 62, but the full amount is only available upon reaching full retirement age. Delaying until age 70 increases the benefit amount.
  2. For those born in 1960 or later, the full retirement age is 67. If you start receiving benefits at age 62, a monthly benefit of $1,000 would be reduced to $700 (a 30.00% reduction).
  3. For those born between 1943 and 1954, the full retirement age is 66, and starting at age 62 would result in $750 (a 25.00% reduction).

How to read the verification levels. "Read Through" means the source was read in its entirety. "Bibliography & Abstract Read" means the bibliographic information and abstract were confirmed. "Via Course Material" means the source was referenced through the textbook or course text. The "Text Hash" is the SHA-256 of the main text from the publisher's page, excluding tags and whitespace, used to detect if the source has been modified.