2017 Brings New Changes to Full Retirement Age
Reading Time: 2 MinutesLast Updated: August 19, 2021
Every worker’s dream is to enjoy a secure retirement. Social Security is here to secure today and tomorrow. Part of that commitment is ensuring you have the most up-to-date information when you make your retirement decisions.
As the bells ring in the New Year, they also bring changes for new Social Security retirement beneficiaries. Full retirement age is 66 and two months for people born 01/02/1955 through 01/01/1956. They are eligible to receive permanently reduced retirement benefits when they turn 62 in 2017.
Full retirement age is the age at which a person first becomes entitled to full (unreduced) retirement benefits. It had been 65 for many years. However, beginning with people born in 1938 that age has been gradually increasing until it reaches 67 for people born in 1960 and later.
As the full retirement age continues to increase, there are greater reductions in benefits if you claim them before you reach full retirement age. For example, if you apply for benefits in 2017 at age 62, your monthly benefit amount will be reduced nearly 26 percent.
You can find your full retirement age, along with other important information, on our website.
Some things you must remember when you’re thinking about retirement:
- You may start receiving Social Security benefits as early as age 62 or as late as age 70. The longer you wait, the higher your monthly benefit will be.
- Your monthly benefits are reduced permanently if you start them any time before full retirement age.
- If you die, your retirement date can affect the payment to your surviving widow or widower. If you started receiving retirement benefits before full retirement age, we cannot pay your surviving spouse their full retirement age benefit amount. We base their benefit on the amount of your reduced benefits.
- If you elect to receive benefits before you reach full retirement age, you should understand how continuing to work affects your benefits.
You can learn more by reading our publication, When to Start Receiving Benefits or visiting our Retirement Planner.
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Tags: full retirement age, retirement benefits, Social Security benefits
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Jim Borland, Assistant Deputy Commissioner, Communications
Jim Borland, Assistant Deputy Commissioner, Communications
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Nancy M.
Hi, I’m Nancy I’m 63 yo I’m now receiving SSD my husband who is 50 and still employed, am I able to receive his SS. When and would it affect his amount down the road? Thanks.
Miriam
My husband is entitled to SS but also has a pension coming from working in a City job. Does the Windfall provision reduce his SS benefits, even if he puts off receiving it? If he put off receiving the pension until age 70, could he receive SS benefits between 66 and 70 at the full rate? Or does the fact that he is entitled to a pension mean the Windfall Provision is in effect?
R.F.
Hi Miriam. Generally, the Windfall Elimination Provision or WEP is not applied until the claimant starts receiving both benefits concurrently. The rules can be complicated and vary depending on the situation. We recommend that your husband contact the local office or call our toll-free number at 1-800-772-1213. Representatives are available Monday through Friday, between 7 a.m. and 7 p.m. Thanks.
J C.
J Culver on March 22, 2017 at 3:40 pm said:
I will be my FRA of 66 in August 2018. Everything I’ve read on SS.GOV says I can file and collect my SS benefit in January 2018 with only the excess over $44,880 (2017 exclusion amount) deducted at the 1 for 3 rate. Am I reading the SS documents correctly? I’m thinking I can collect my SS beginning in January at a slightly reduced rate from what I would collect if I wait until August 2018. Yes, this is the second time I posted this question. I didn’t get an answer the first time. Thank you in advance.
R.F.
Hello Mr. Culver, our apologies if we missed your question before. Click here to look at a couple of examples similar to your situation. Thanks!
J C.
Thank you, Ray. I am aware and have copies of your link examples and that is what piqued my question. Your response confirms my supposition. I will be able to collect my SS at a slightly reduced rate in January 2018 and have $44,880 excluded from the $1 deduction for every $3 earned until the month I turn FRA, August 2018.
Diane
I retired on January 31, 2017. I am receiving a monthly vacation pay until July. I will turn 65 in August. Does the vacation pay count as income? If not, will I still receive more social security payment if I wait until 65 to start my SSI or should I go ahead and start now? Thank you
R.F.
Thanks for your question Diane. After you retire, you may receive “special payments” for work you did before you started getting Social Security benefits. Usually, those payments will not affect your Social Security benefit if they are for work done before you retired. Please bear in mind that the decision on when to apply for benefits is a personal one. We can only provide you with the information to help you make the best choice according to your own situation. You can retire at any time between age 62 and full retirement age. However, if you start benefits early, your benefits are reduced a fraction of a percent for each month before your full retirement age. The reduction factors are permanently applied to all benefits an individual may qualify for once they opt to start benefits at any time prior to their full retirement age. To help you plan, you can estimate the amount of your own benefit using our online calculators. You can also create a my Social Security account to verify your earnings, and get a copy of your Social Security Statement. Our system is set up to take applications three months in advance. Remember that benefits are paid the month after they are due. So, for instance, if you want your benefits to begin with the month of August, you will receive your first benefit payment in September. When ready, you can apply online. If you need further assistance call our toll free number, 1-800-772-1213 (TTY 1-800-325-0778) and ask to speak with one of our representatives, who are available Monday through Friday between 7 a.m. and 7 p.m. We hope this information helps!
Diana M.
Asking questions for my mother. She retired early at 62. She will be 65 in August. She is receiving reduced social security now. When she turns 65, will she automatically receive full social security? Does she have to fill out any forms?
R.F.
Thank you for your question Diana. You can retire at any time between age 62 and full retirement age. However, if you start benefits early, your benefits are reduced a fraction of a percent for each month before your full retirement age . The reduction factors are permanently applied to all benefits an individual may qualify for once they opt to start benefits at age 62 or at any time prior to their full retirement age. A beneficiary’s monthly benefit amount could increase, if he or she continues to work. Each year, we review the records for all working Social Security recipients to see if additional earnings may increase their monthly benefits. The other way your monthly benefit amount could increase is based on the Cost-of-Living Adjustment (COLA), which is announced each year in October. We hope this information helps.
Rosanne
I am two years older than my husband. If he waits until 70 to take his Social Security benefits, will I get that amount each month if I survive him and he dies sometime after age 70?
R.F.
Thank you for your question Rosanne. Generally, a widow or a surviving divorced spouse can receive 100 percent of the worker’s basic benefit amount, when she attains her full retirement age. The maximum survivors benefit is limited to what they would receive if they were still alive. To see examples of the benefits that survivors may receive check out our Survivors Planner: How Much Would Your Benefit Be?
Lori
If my spouse begins to collect before his FRA and I die, is he still entitled to collect on my benefits (I have the higher amount). Are there any limits? In other words, would he have to wait until his FRA to begin collecting mine (as mine is higher).
R.F.
Thank you for your question Lori. In many cases, a widow or widower can begin receiving one benefit at a reduced rate and then, at full retirement age, switch to the other benefit at an unreduced rate. The rules are complicated and vary depending on the situation. You may want to talk to a Social Security representative about the options available. To see examples of the benefits that survivors may receive check out our Survivors Planner: How Much Would Your Benefit Be?
Robert Q.
My spouse will turn 62 in August, if she applies for Social Security, I know that her benefit will be reduced by appox 26%. However, will there be deductions for Medicare (Part B, etc) at this point or will those deductions start when she turns age 65 and officially signs up for Medicare?
R.F.
Thank you for your question Robert. Medicare is our country’s health insurance program for people age 65 or older. Individuals receiving Social Security benefits, and becoming eligible for Medicare, will be automatically enrolled in Medicare Part A (Hospital Insurance) and Part B (Medical Insurance). Part B premiums will be automatically deducted from their benefit payment. We hope this information helps!
Alan R.
My wife starting taking 1/2 of my SS monthly payment when she turned 66. I know that ended in May of 2016. She is still working but planning to quit at 68. If she waits until she is 70 to take her SS will it increase those last two years she doesn’t work? Also, how could we find out what she could get at 68 if she discontinued taking my 1/2 and took her allowed SS payment?
R.F.
Hi Alan. The best way to start planning for the future is by creating a my Social Security account online. We have a variety of calculators to help you plan for the future. Which calculator you choose depends on what you want to do. In your wife’s case, she may want to use our Early or Late Retirement Calculator. Thanks!
Sol K.
My spouse , 68 years old , not eligible for Medicare part A on his work credit . I am eligible & have full credits .I am turning 62 this June . Will my spouse get Medicare part A ( premium free) in June without me starting my benefits ??i want to wait till full retirement age .
R.F.
Thank you for your question Sol. A person age 65 or older who is not insured, but married to an insured individual, could qualify for Medicare on his or her spouse’s record, when their spouse attains age 62. Keep in mind that there may be other requirements to qualify for Medicare. Please call our toll free number at 1-800-772-1213 for specific questions about your husband’s situation. Representatives are available Monday through Friday, between 7 a.m. and 7 p.m. Thanks!