1. Full retirement age is 65 for everyone
Reality: Full retirement age varies, depending on your birth year. For example, if you were born between 1943 and 1954, it is age 66. On the other hand, if you were born in 1960 or after, it’s age 67.
Until you reach your “full retirement age,” you can’t receive 100% of the amount you are eligible for.
It’s understandable that many people are confused: 65 was the original full retirement age, as established in the 1935 Social Security Act. Our story, “70% of Older Adults Botch This Basic Retirement Question,” explains that many American adults are confused about the subject.
In 1983, recognizing the improved health and longevity of older Americans, Congress raised the Social Security full retirement age. The full retirement age changed starting with people born in 1938. It increased, in small increments, ending with those born in 1960 and later, who may claim full benefits at age 67.
To learn your full retirement age, use this chart.
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