When You Can Retire

Understanding Full Retirement Age (FRA)

Due to legislation passed by Congress in 1983, the age workers can start receiving full Social Security retirement benefits has been gradually increasing. Currently, the Full Retirement Age (FRA) is age 66 if you were born in 1943 through 1954. The FRA will gradually rise to age 67 if you were born in 1960 or later.

Early retirement benefits will continue to be available at age 62 but there are two things to keep in mind. At age 62, the amount of your benefit will be reduced because you will be receiving benefits during the years before you reach your FRA (see chart below). And if your  full-benefit age is raised to 67, benefits you take at age 62 will be reduced even more.

It’s also important to note The Bipartisan Balanced Budget Act of 2015 introduced substantial changes to Social Security claiming rules. These changes impacted File and Suspend and Restricted Application — two claiming options that enabled married couples to earn Delayed Retirement Credits.

For more information on these changes, download our Social Security Overview Brochure

Leverage Social Security

Age To Receive Full
Social Security Benefits

(Called “full retirement age” or “normal retirement age.”)

Year of Birth* Full Retirement Age
1937 or earlier 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
1943-1954 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
*If you were born on January 1st of any year you should refer to the previous year. (If you were born on the 1st of the month, we figure your benefit (and your full retirement age) as if your birthday was in the previous month.)