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How do you calculate full retirement age? The year and month you reach full retirement age depends on the year you were born. In 2025, If you were born between 1943-1954, FRA is 66 years.
When Social Security was created, the full retirement age was set at 65. However, in 1983, lawmakers amended Social Security to try to shore up the finances of the program.
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
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
However, there exists a penalty for collecting benefits before full retirement age: the recipient's monthly benefits are permanently reduced. [9] For instance, if a recipient turns age 62 in 2017, their benefit will be approximately 25.8 percent lower than it would have been at full retirement age of 66 and 2 months. [4]
Full retirement age (which is 67 if you were born in 1960 0r later) ... The calculator allows you to input projections for future income so you can get a more accurate estimate of future benefits ...
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