Social Security and Retirement. What does "Full Retirement Age" Mean?
Social Security and Retirement: What Does "Full Retirement Age" Mean?
Originally published: February 17, 2023
Updated: June 16, 2026
An informal survey of staff at the Center for Retirement Research asking "What is the current retirement age for Social Security?" produced a range of responses. About half — mostly the "old hands" — said 67. The other half — generally younger and newer staff members — gave answers including 62, 65, 66, and 68. Essentially, they are all wrong. Social Security’s full retirement age is based on the year you were born, so the fact that people are confused is not surprising.
You can start receiving your Social Security retirement benefits as early as age 62. However, you are not entitled to full benefits until you reach your full retirement age — and even then, if you actually delay taking your benefits until age 70, your benefit amount will be increased further.
Your Full Retirement Age by Year of Birth
| Year of Birth | Full Retirement Age (FRA) |
|---|---|
| 1943 - 1954 | 66 years old |
| 1955 | 66 years and 2 months |
| 1956 | 66 years and 4 months |
| 1957 | 66 years and 6 months |
| 1958 | 66 years and 8 months |
| 1959 | 66 years and 10 months |
| 1960 and later | 67 years years old |
Source: SSA.gov — Full Retirement Age
Why Did the Full Retirement Age Change?
Full retirement age, also called "normal retirement age," was 65 for many years. In 1983, Congress passed a law to gradually raise the age because people are living longer and are generally healthier in older age. The law raised the full retirement age beginning with people born in 1938 or later. The retirement age gradually increases by a few months for every birth year, until it reaches 67 for people born in 1960 and later.
If Age 70 Pays the Highest Benefits, Why Does Full Retirement Age Still Matter?
Before the delayed retirement credit became actuarially fair, full retirement age was a meaningful concept — it was the age at which lifetime benefits were the highest. But once the delayed retirement credit became actuarially fair, full retirement age became largely symbolic. It does not describe when benefits are first available (that is age 62), nor when monthly benefits are at their maximum (that is age 70).
But it is important to note that a number of specific Social Security provisions are linked to full retirement age: an earnings test applies before FRA but not thereafter, and benefits for widows and spouses are reduced if claimed before FRA and not thereafter.
The 2026 Social Security Earnings Test
The earnings test is one practical reason full retirement age still matters. In 2026, if you collect Social Security before your full retirement age while still working, SSA will temporarily reduce your benefit if your earnings exceed $24,480 per year — roughly $2,040 per month. For every $2 you earn above that limit, SSA withholds $1 in benefits. In the calendar year you reach your full retirement age, the threshold rises to $65,160 ($5,430/month), and SSA withholds $1 for every $3 over the limit. Once you reach your full retirement age, the earnings test no longer applies and withheld amounts are added back into your future monthly benefit.
Sources: SSA.gov — Receiving Benefits While Working | SSA.gov — COLA 2026 Fact Sheet | SSA.gov FAQ — Work and Social Security
These thresholds are SSA-confirmed 2026 figures. This is particularly relevant if you are still working and considering an early claim — the earnings test can temporarily reduce your monthly payment until you reach FRA.
Early vs. Delayed Claiming: What the Math Looks Like
The age at which you claim Social Security has a permanent effect on your monthly benefit. For someone with a full retirement age of 67, here is how the numbers work:
| Claiming Age | Benefit vs. FRA Amount | Key Note |
|---|---|---|
| 62 (earliest) | ~70% of FRA benefit (-30%) | Maximum permanent reduction |
| 63 | ~75% of FRA benefit (-25%) | Still a significant reduction |
| 64 | ~80% of FRA benefit (-20%) | |
| 65 | ~86.7% of FRA benefit (-13.3%) | |
| 66 | ~93.3% of FRA benefit (-6.7%) | |
| 67 (FRA) | 100% of FRA benefit | Full, unreduced benefit |
| 68 | ~108% of FRA benefit (+8%) | Delayed retirement credit begins |
| 69 | ~116% of FRA benefit (+16%) | |
| 70 (maximum) | ~124% of FRA benefit (+24%) | Maximum possible monthly benefit |
Note: Exact reduction percentages depend on the number of months before your FRA that you claim. The 8% per year delayed retirement credit applies for each full year you wait past FRA up to age 70.
Source: SSA.gov — Delayed Retirement Credits
Spousal and Survivor Benefits: How Full Retirement Age Applies
Full retirement age is not just relevant to your own retirement benefit — it also governs spousal and survivor benefits, which is why it still matters even for those who plan to delay claiming.
Spousal Benefits: If you are married, you may be eligible for a spousal benefit worth up to 50% of your spouse’s full retirement age benefit. You can claim a spousal benefit as early as age 62, but — just like your own retirement benefit — claiming before your FRA results in a permanent reduction. You must be at least 62 years old (or any age if caring for a qualifying child under 16 or disabled), and your spouse must already be receiving their own Social Security benefit.
Survivor Benefits: If your spouse passes away, you may be eligible for a survivor benefit worth up to 100% of your deceased spouse’s benefit — including any delayed retirement credits they had earned. Survivor benefits can be claimed as early as age 60 (age 50 if you are disabled). Claiming before your FRA results in a reduced survivor benefit, so timing matters here as well.
For both spousal and survivor benefits, your full retirement age is the benchmark — claim before it and benefits are reduced; claim at or after it and you receive the full amount available to you.
Source: SSA.gov — Spousal Benefits | SSA.gov — Survivor Benefits
So, How Do I Decide When to Start Taking My Benefits?
There is no right or wrong answer; it truly does depend on the individual. You want to think about life expectancy, health, and other income sources when making up your mind.
A good first step is to get your own personalized estimate directly from the SSA. You can visit the SSA Retirement Estimator at ssa.gov/benefits/retirement/estimator.html to see projected benefit amounts at different claiming ages based on your actual earnings record.
There are other options to consider if you need retirement income but do not want to start pulling from your Social Security benefits until later. For example, some opt to take distributions from their 401(k), or they look to other income sources such as pensions or annuities. One option — a Fixed Index Annuity (FIA) — allows you to obtain a reasonable rate of return over time while shielding you from losses when the market is down. Most FIAs also allow for a penalty-free 10% withdrawal per year, providing a potential income source so you can delay turning Social Security on.
At Summerlin Benefits Consulting, we specialize in helping our clients preserve and grow their nest eggs so that they can focus on enjoying their retirement instead of worrying about their means. We also help our clients consider ALL of their retirement income options — including Social Security benefits — so that they can make the best decision for themselves. One of our core values is educating our clients and making things simple to understand so that they feel empowered to choose the path that is right for them!
Last Updated: June 16, 2026
Frequently Asked Questions
Q: What is full retirement age for Social Security in 2026?
A: If you were born in 1960 or later, your full retirement age (FRA) is 67. You can claim Social Security as early as age 62 — but your monthly benefit will be permanently reduced by up to 30%. Waiting until age 70 earns you the maximum possible monthly benefit, with delayed retirement credits increasing your payment by approximately 8% for each year past FRA. (SSA.gov — Full Retirement Age)
Q: When should I take Social Security?
A: The right age depends on your health, life expectancy, and other income sources. Claiming early at 62 gives you more years of payments but at a permanently reduced monthly amount. Waiting until 70 maximizes your monthly benefit — often 24% more than claiming at FRA. If you have other income sources like an annuity or pension that can cover expenses in the gap, delaying Social Security usually pays off. (SSA.gov — When to Start)
Q: Can I work and collect Social Security at the same time?
A: Yes, but there are limits before you reach full retirement age. In 2026, SSA will temporarily reduce your benefit if you earn more than $24,480 per year — withholding $1 for every $2 above that amount. In the year you reach your FRA, the limit jumps to $65,160. Once you reach full retirement age, you can earn any amount without reduction, and any previously withheld benefits are added back into your monthly payment. (SSA.gov — Receiving Benefits While Working)
Q: How much Social Security will I get?
A: Your benefit is based on your 35 highest-earning years and the age you start claiming. The SSA calculates a personalized amount from your earnings record. In 2026, the average Social Security retirement benefit is approximately $2,071 per month after the 2.8% annual COLA adjustment. Get your own estimate at ssa.gov/benefits/retirement/estimator.html using the SSA Retirement Estimator. (SSA.gov — 2026 COLA Announcement; Kiplinger — 2026 COLA)
Q: How does full retirement age affect spousal and survivor benefits?
A: Spousal benefits can be up to 50% of your spouse’s FRA benefit, and survivor benefits up to 100% of a deceased spouse’s benefit — but both are reduced if claimed before your own full retirement age. Timing your claim relative to your FRA determines whether you receive the full spousal or survivor amount or a permanently reduced payment. (SSA.gov — Survivors Benefits)
Content is for informational purposes only. Does not constitute tax or legal advice. SBC does not provide specific tax or legal advice. Consult a tax/legal professional for guidance with your individual situation.
