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Essentially, the SSA takes your 35 top-earning years and uses a formula to determine your benefit at full retirement age, which is 67 for workers born in 1960 or later. But the actual calculation ...
Birth year. Full retirement age. 1943–1954. 66. 1955. 66 and 2 months. 1956. 66 and 4 months. 1957. 66 and 6 months. 1958. 66 and 8 months. 1959. 66 and 10 months. 1960 or later
Birth Year. Full Retirement Age. 1943 - 1954. 66. 1955. 66 and 2 months. 1956. 66 and 4 months. 1957. 66 and 6 months. 1958. 66 and 8 months. 1959. 66 and 10 months. 1960 or later
By 2027, retirement age will be linked to the average life expectancy. Having children may reduce the retirement age by 3–5 years. [21] [23] [12] Finland: 64.5–69 2024 Flexible retirement age: 64–69 years, national pension 65 years. In 2030, the retirement age will be linked to life expectancy. [21] [12] France: 62–67 2018
Data source: Social Security Administration. If you haven't reached full retirement age, you can sign up for a reduced Social Security benefit as long as you're at least 62 years old.
As of 2024, the average retirement age in the U.S. is 62, according to a recent Mass Mutual survey. Meanwhile, both retirees and pre-retirees mark 63 as the ideal retirement age.
With the age of retirement rolled forward by consecutive governments, for the majority of individuals, the number of qualifying years is likely to surpass 35 years. [2] A minimum of 10 qualifying years is required to receive any State Pension at retirement age.
In 2008, the average retiree claimed benefits at 63.6 years old for both men and women. Ten years later, the average claiming age increased about a year to 64.7 years old for men and 64.6 years ...