Social Security Online | Full Retirement Age is Increasing | |||||
www.socialsecurity.gov |
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Find Your Retirement Age |
No matter what your full retirement age is, you may start receiving benefits as early as age 62.Note: If you were born on January 1st of any year you should refer to the previous year in the chart below. |
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If you retire early |
You can also retire at any time between age 62 and full retirement age. However, if you start at one of these early ages, your benefits are reduced a fraction of a percent for each month before your full retirement age. As a general rule, early retirement will give you about the same total Social Security benefits over your lifetime, but in smaller amounts to take into account the longer period you will receive them. Note: If your birthday is on the 1st of the month, we figure the benefit as if your birthday was the previous month. |
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Pros and Cons |
There are disadvantages and advantages to taking your benefit before your full retirement age. The advantage is that you collect benefits for a longer period of time. The disadvantage is that your benefit is permanently reduced. Each person's situation is different, so make sure you contact Social Security before you decide to retire. |
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