You can start your Social Security retirement benefits as early as age 62, but the benefit amount you receive will be less than your full retirement benefit amount.
The chart below provides examples of the percentage of your full retirement benefit amount you and your spouse would receive from age 62 up to your full retirement age.
How Your Social Security Benefit Is Reduced
If you start getting benefits at age *
And you are the: Wage Earner, the benefit amount you will receive is reduced to
And you are the: Spouse, the benefit amount you will receive is reduced to
62
72.5%
33.8%
62 + 1 month
72.9
34.0
62 + 2 months
73.3
34.2
62 + 3 months
73.8
34.4
62 + 4 months
74.2
34.6
62 + 5 months
74.6
34.8
62 + 6 months
75.0
35.0
62 + 7 months
75.4
35.2
62 + 8 months
75.8
35.4
62 + 9 months
76.3
35.6
62 + 10 months
76.7
35.8
62 + 11 months
77.1
36.0
63
77.5
36.3
63 + 1 month
77.9
36.5
63 + 2 months
78.3
36.7
63 + 3 months
78.8
36.9
63 + 4 months
79.2
37.1
63 + 5 months
79.6
37.3
63 + 6 months
80.0
37.5
63 + 7 months
80.6
37.8
63 + 8 months
81.1
38.2
63 + 9 months
81.7
38.5
63 + 10 months
82.2
38.9
63 + 11 months
82.8
39.2
64
83.3
39.6
64 + 1 month
83.9
39.9
64 + 2 months
84.4
40.3
64 + 3 months
85.0
40.6
64 + 4 months
85.6
41.0
64 + 5 months
86.1
41.3
64 + 6 months
86.7
41.7
64 + 7 months
87.2
42.0
64 + 8 months
87.8
42.4
64 + 9 months
88.3
42.7
64 + 10 months
88.9
43.1
64 + 11 months
89.4
43.4
65
90.0
43.8
65 + 1 month
90.6
44.1
65 + 2 months
91.1
44.4
65 + 3 months
91.7
44.8
65 + 4 months
92.2
45.1
65 + 5 months
92.8
45.5
65 + 6 months
93.3
45.8
65 + 7 months
93.9
46.2
65 + 8 months
94.4
46.5
65 + 9 months
95.0
46.9
65 + 10 months
95.6
47.2
65 + 11 months
96.1
47.6
66
96.7
47.9
66 + 1 month
97.2
48.3
66 + 2 months
97.8
48.6
66 + 3 months
98.3
49.0
66 + 4 months
98.9
49.3
66 + 5 months
99.4
49.7
66 + 6 months
100.0
50.0
* If your birthday is on the 1st of the month, we figure your benefit as if your birthday were in the previous month.
Most countries set the age of majority at 18, but some jurisdictions have a higher age and others lower. The word majority here refers to having greater years and being of full age as opposed to minority, the state of being a minor.
is 66 and 6 months (En español) You can start your Social Security retirement benefits as early as age 62, but the benefit amount you receive will be less than your full retirement benefit amount.
If you were born in 1957, your full Social Security retirement age is 66 years and six months. That means 2023 is actually the target year for your retirement. And if you were born in the latter half of 1957, your full retirement age may creep into 2024.
The most an individual who files a claim for Social Security retirement benefits in 2024 can receive per month is: $2,710 for someone who files at 62. $3,822 for someone who files at full retirement age (66 and 6 months for people born in 1957, 66 and 8 months for people born in 1958).
The full retirement age is 66 if you were born from 1943 to 1954. The full retirement age increases gradually if you were born from 1955 to 1960 until it reaches 67. For anyone born 1960 or later, full retirement benefits are payable at age 67.
The 1957 Survivor Benefit is a monthly allowance to an eligible surviving spouse, registered domestic partner, or minor child equal to half of the highest service retirement benefit payable had the member retired on the date of death.
For people born before 5 April 1960, their State Pension age is 66.For everyone born after this date, their State Pension age is increasing to 67 and will eventually increase to 68.
Social Security can potentially be subject to tax regardless of your age. While you may have heard at some point that Social Security is no longer taxable after 70 or some other age, this isn't the case. In reality, Social Security is taxed at any age if your income exceeds a certain level.
If you decide to delay your retirement, be sure to sign up for Medicare at age 65. In some circ*mstances, medical insurance costs more if you delay applying for it.
Have you heard about the Social Security $16,728 yearly bonus? There's really no “bonus” that retirees can collect. The Social Security Administration (SSA) uses a specific formula based on your lifetime earnings to determine your benefit amount.
Social Security survivors benefits are paid to widows, widowers, and dependents of eligible workers. This benefit is particularly important for young families with children.
If your pay at retirement will be $100,000, your benefits will start at $2,026 each month, which equals $24,315 per year. And if your pay at retirement will be $125,000, your monthly benefits at the outset will be $2,407 for $28,889 yearly.
If you start taking Social Security at age 62, rather than waiting until your full retirement age (FRA), you can expect a 30% reduction in monthly benefits with lesser reductions as you approach FRA. Remember, FRA is no longer age 65: It's 67.
If you were born in 1957 your full retirement age is 66 and 6 months (En español) You can start your Social Security retirement benefits as early as age 62, but the benefit amount you receive will be less than your full retirement benefit amount.
A surviving spouse, surviving divorced spouse, unmarried child, or dependent parent may be eligible for monthly survivor benefits based on the deceased worker's earnings. In addition, a one-time lump sum death payment of $255 can be made to a qualifying spouse or child if they meet certain requirements.
Full Retirement Age for Survivors Born In 1957: 66 and 2 Months (En español) The earliest a widow or widower can start receiving Social Security survivors benefits based on age is age 60.
You can apply for retirement benefits up to 4 months before you want to start receiving your benefits. Even if you are not ready to retire, you still should sign up for Medicare 3 months before your 65th birthday.
later, then your full retirement age for retirement insurance benefits is 67. If you work, and are at full retirement age or older, you may keep all of your benefits, no matter how much you earn.
Introduction: My name is Frankie Dare, I am a funny, beautiful, proud, fair, pleasant, cheerful, enthusiastic person who loves writing and wants to share my knowledge and understanding with you.
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