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Social Security: Full retirement ages stop changing

Every year people see the age at which you can collect Social Security benefits change, but this year that will end.

social security card with cash and checks representing social security benefits

For the last 20 years the Full Retirement Age, or FRA, has gone up.

The gradual rise was from age 65 to 67 from 2000 until now.

People may still start collecting at age 62, but they risk losing 30% of their benefits permanently.

Depending on your year of birth, your FRA changes.


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The following birth years determine your FRA for collecting Social Security

  • 1943-1954 FRA: 66
  • 1955 FRA: 66 and two months
  • 1956 FRA: 66 and four months
  • 1957 FRA: 66 and six months
  • 1958 FRA: 66 and eight months
  • 1959 FRA: 66 and 10 months
  • 1960 and later FRA: 67


When are benefits recalculated?

Anyone born in or after 1960 will now have an FRA of 67.

This means anyone eligible in the future won’t need to wait as long to get full benefits.

The average check in 2022 is $1,657.


Claiming Social Security early

If you choose to retire at 62, you can lose 30% of your benefits.

By retiring at your FRA you see 100% of your benefits.

If you wait by one year you’ll see 8% more in benefits.

You can do this until age 70 when you’ll see a maximum of 132% in benefits.

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