Social Security Claiming Age

When you claim Social Security retirement benefits affects how much you receive each month for the rest of your life. Claiming before your Full Retirement Age (FRA) permanently reduces your benefit. Waiting past FRA earns delayed retirement credits of 8% per year, up to age 70.

Full Retirement Age by Birth Year

Birth YearFull Retirement Age
193765 years
193865 years, 2 months
193965 years, 4 months
194065 years, 6 months
194165 years, 8 months
194265 years, 10 months
1943 – 195466 years
195566 years, 2 months
195666 years, 4 months
195766 years, 6 months
195866 years, 8 months
195966 years, 10 months
1960 and later67 years
Source: Social Security Administration, "Retirement Planner: Full Retirement Age." ssa.gov.

How Benefits Change by Claiming Age

For someone born in 1960 or later (FRA = 67). The benefit factor is multiplied by your full retirement benefit amount.

Claiming Age Benefit Factor Example ($2,000 FRA) Description
620.700$1,400/mo30% permanent reduction
630.750$1,500/mo25% permanent reduction
640.800$1,600/mo20% permanent reduction
650.867$1,733/mo13.33% permanent reduction
660.933$1,867/mo6.67% permanent reduction
671.000$2,000/moFull retirement age - 100% of benefit
681.080$2,160/mo8% delayed retirement credit
691.160$2,320/mo16% delayed retirement credit
701.240$2,480/mo24% delayed retirement credit
Source: Social Security Administration, "Effect of Early or Delayed Retirement on Retirement Benefits." ssa.gov.
Example: How Claiming Age Affects Your Benefit

If your Full Retirement Age benefit is $2,000 per month:

The difference between claiming at 62 and 70 is $1,080 per month — or $12,960 per year — for life.

Important: These reductions and credits are permanent. If you claim early, your benefit stays reduced even after you reach FRA. Delayed retirement credits stop accumulating at age 70 — there is no additional benefit to waiting past 70.
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