US Social Security Information

US Social Security Information
Exhibit: Full Retirement and Age 62 Benefits, by Year of Birth

Year of birth	Full retirement age
1937 and prior	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
1943-54	66
1955	66 and 2 months
1956	66 and 4 months
1957	66 and 6 months
1958	66 and 8 months
1959	66 and 10 months
1960 and later	67
Note: persons born on January 1 of any   year  should refer to the normal retirement  age for the previous year.

Source: Social Security Handbook-Section 723.5
THE EARLIEST AGE FOR FULL BENEFITS

Through most of Social Security’s history, 65 was the magic age. Claiming retirement benefits before then and you can start as early as age 62 meant accepting a lifetime reduction in benefits. For folks retiring this year, though, the magic age is 66 ... and the age at which you can start collecting benefits without being docked for starting early -- or being threatened by the earnings test -- is increasing.
Exhibit: Earliest Age for Full Retirement Benefits

                                                                         Cut in benefits

Birth year         Full retirement age           if claimed at 62

1943-1954	66	25.00%
1955	66 and 2 months	25.83
1956	66 and 4 months	26.67
1957	66 and 6 months	27.50
1958	66 and 8 months	28.33
1959	66 and 10 months	29.17
1960 and later	67	30.00

Source: Social Security Age Reduction