Social Security Retirement Age is one of the most important factors to consider when you are planning for retirement. It’s the age at which Americans can start drawing Social Security benefits. Social Security retirement benefits are Social Security old-age, survivors, and disability benefits. Social Security provides retirement income to workers who reach age 62 and who have worked long enough in qualifying jobs.
The social security retirement age refers to when you can start claiming social security benefits. You can start claiming your benefits at age 62 or any time thereafter. Social security benefits are available at different ages, depending on when your birthday falls. The earliest age for full retirement is 62, and the latest age is 66. For example, say you were born in 1962. You’ll be eligible for full retirement benefits if you turn 62 between October 1, 2017, and January 1, 2018. If you were born from 1943 to 1954 and choose early retirement, your benefit will be reduced by 5/9 of 1% per month (or 3 months) before you reach full retirement age.
Since the enactment of Social Security in 1935, the full retirement age has increased from 65 to 66, and is scheduled to increase to 67 for those born in 1960 or later. he age depends, in part, on when people were born and their birth year affects how much money they will get for the rest of their lives. The social security retirement age is the age at which you can start receiving your Social Security. You can collect Social Security benefits before, after or at your full retirement age.
Social Security retirement age is a term used by the Social Security Administration, to define when people are eligible for full benefits if they have worked long enough to qualify.
Social Security retirement age: if you were born in 1957 or later, the normal retirement age is 66. If you were born from 1943–1956, your date of birth determines the age at which your benefits are maximized. On July 2nd, the president of the United States signed into law the most significant cuts in social security benefits since the program was introduced 70 years ago.
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