When Social Security Benfits Begin
Generally speaking, you can retire at any time from age 62 up to age 70. However, if you choose to begin receiving benefits before your full retirement age (see table below), your benefits will be reduced to account for the longer period over which you'll be paid. How much your benefit will be reduced is based on how many months younger you are than your full retirement age. If you retire later than your full retirement age, your benefits will be higher.
| Birth Year | Full Retirement Age |
|---|---|
| 1937 or earlier | 65 |
| 1938 | 65 and 2 months |
| 1939 | 65 and 4 months |
| 1940 | 65 and 6 months |
| 1941 | 65 and 8 months |
| 1942 | 65 and 10 months |
| 1943 to 1954 | 66 |
| 1955 | 66 and 2 months |
| 1956 | 66 and 4 months |
| 1957 | 66 and 6 months |
| 1958 | 66 and months |
| 1959 | 66 and 10 months |
| 1960 and later | 67 |