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The full retirement age is set to increase again by two months, to 66 years and 10 months old, for people born in 1959. That means the higher FRA for that cohort will go into effect in 2025, with ...
For example, if you were born in 1960 or later and file for Social Security as soon as you’re eligible at age 62, your monthly benefit would see a 30 percent haircut. That would lower a $1,000 ...
There's also the option to delay Social Security past full retirement age for a boosted benefit. That incentive runs out at age 70, though. That incentive runs out at age 70, though.
Year of birth. Full retirement age. 1937 and before. 65. 1938-1942. 65 + 2 months for each year past 1937. 1943-1954. 66. 1955-1959. 66 + 2 months for each year past 1954
For most Americans, the full retirement age for Social Security purposes is 67. This applies to everyone born in 1960 or later. Social Security card on money. Image source: Getty Images.
Year of Birth. 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 and later
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