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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
Plus, while you’re allowed to claim Social Security benefits once you turn 62, failing to wait until full retirement age (67 for anyone born in 1960 or later) means facing a lifelong reduction ...
Benefits could also be reduced if your early retirement prompts an early Social Security claim. You can claim benefits as early as 62, but this is before your full retirement age when your ...
You can choose to claim retirement benefits as early as age 62. However, SSA will reduce your benefit by about 0.5% for every month you receive benefits before your FRA. For example, if your full ...
Upon turning 62, you qualify to receive early Social Security benefits. But if you do so, the SSA pays out only reduced benefits until you reach full retirement age (FRA). ... Plus 7 More Worth ...
Your full retirement age, as defined by the Social Security Administration (SSA), isn’t necessarily the age you stop working. It’s based on your year of birth, which typically works out to ...
Claiming at FRA: If you wait until your full retirement age — 67 for people who turn 62 in 2024 — you’ll receive 100% of your calculated benefit based on your earnings history.
Here's what this means. If your full retirement age is 67 and you start collecting Social Security at 62, your benefit will be reduced by 30% compared to what it would have been at full retirement ...
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