How the Social Security Retirement Age Works
Your full retirement age (FRA) is the age at which you can claim your full US Social Security benefit — not reduced, not increased. It depends only on the year you were born. For anyone born in 1960 or later, FRA is 67. For those born 1943–1954 it was 66, and it rises by two months per birth year from 1955 to 1959.
You can claim as early as 62, but the benefit is permanently reduced — by up to about 30% if your FRA is 67. Waiting past your FRA earns delayed retirement credits of roughly 8% per year up to age 70, after which there is no further gain. This calculator shows your FRA and how much your monthly check changes at each claiming age.
Questions people ask
What is full retirement age (FRA)?
The age at which you receive 100% of your Social Security retirement benefit. Claim earlier and it is permanently reduced; claim later and it grows.
What is the full retirement age for 1960 and later?
67. For birth years 1955–1959 it phases up from 66 and 2 months to 66 and 10 months; for 1943–1954 it is 66.
How much less do I get if I claim at 62?
If your FRA is 67, claiming at 62 cuts the monthly benefit by about 30% for life. The reduction is smaller the closer you claim to your FRA.
Does waiting until 70 increase my benefit?
Yes. Each year you delay past FRA adds about 8% in delayed retirement credits, up to age 70. After 70 there is no additional increase.
Educational tool based on published US Social Security Administration rules; it is not financial advice and does not account for spousal, survivor or earnings-test factors. Check ssa.gov for your official figures.