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SOURCE ROOM

Benefits Planner: Retirement — Retirement Age and Benefit Reduction

Social Security Administration (U.S.).

Claims Supported by This Source

  1. Retirement benefits can be received as early as age 62, but the full amount is only available upon reaching full retirement age. Delaying from full retirement age until age 70 increases the benefit amount.
  2. For those born in 1960 or later, the full retirement age is 67. Receiving benefits starting at age 62 results in a 30.00% reduction (e.g., $700 instead of a full benefit of $1,000).

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