What is My Full Retirement Age?

Contrary to popular belief, the age of 65 is no longer the full retirement age for all Americans. In fact, unless you were born in 1937 or earlier, you full retirement age is older than 65. For instance, if you were born in 1938, then your full retirement age is 65 years and 2 months. If you were born between 1943 and 1954, your full retirement age is 66. For those individuals born after 1960, your full retirement age is 67. Of course, the full retirement age will likely increase over time, as Americans continue to live longer than previous generations.

The earliest you can start receiving retirement is age 62. However, if you opt for an earlier retirement than your full retirement age, your benefit can be reduced by 20 to 30 percent depending on how early you opted for this premature retirement. Ideally, you should delay taking your retirement benefit until you are at full retirement age in order to maximize your benefits.

Additionally, you can delay taking your retirement even once you are at your full retirement age, in order to increase your monthly benefit. However, you must sign up for Medicare at age 65. For more information about how age affects retirement benefits, please check out this link: https://www.ssa.gov/planners/retire/retirechart.html

Got a question about SSDI or SSI that you need us to answer? Please check out our website at www.westcoastdisability.com . We try to provide you with helpful information on our website that will allow you to successfully navigate the Social Security Disability process. Also, feel free to email me your questions at megan@westcoastdisability.com or call me at (800) 459-3017 x 103.