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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Elsa
My husband had gone to the SS office to ask about his benefits awhile back because he had worked for about 20 years using his SS. Then he worked 20 years with a school district. And now they tell him he does not qualify because he was a government employee!! So what happen to his SS that was deducted for all those other years?
R.F.
Hi Elsa. A pension based on work that is not covered by Social Security (for example, Federal civil service and some State or local government agencies, such as police officers and some teachers) may cause the amount of your Social Security benefit to be reduced. Your benefits can be reduced based on one of two provisions. Your own Social Security benefit can be reduced based on the Windfall Elimination Provision. Your spouse’s, divorced spouse’s, surviving divorced spouse’s or widow’s benefits under Social Security may be affected by the Government Pension Offset.
Angelika K.
I was born in 1947 and have been collecting social security on my ex husband’s SS. I am turning 70 in 2 month and want to switch to my own SS. What do I need to do?
R.F.
Hi Angelika, you will need to contact us to see if you qualify for a higher benefit amount. Thanks!
Ryan
Can couples (both DOB before 1954) both claim spousal benefit respectively at age 62, and delay their own benefits to get delayed credit later?
J.Y.
Hi Ryan. If you and your spouse turn 62 before January 2, 2016, deemed filing rules will not apply if you file at full retirement age or later. This means that you may file for either your spouse’s benefit or your retirement benefit without being required or “deemed” to file for the other benefit. In this case, you may also restrict your application to apply only for spousal benefits and delay filing for your own retirement in order to earn delayed retirement credits. However, if you turn age 62 on or after January 2, 2016, you are required or “deemed” to file for both your own retirement and for any benefits you are due as a spouse, no matter what age you are. We hope this helps.
Ryan
Thanks for replying, but you didn’t answer my question. My question was whether BOTH husband AND wife could claim spousal benefits respectively at the same time, and delay each of their own benefits to earned delayed credits.
R.F.
Hi again Ryan. A person entitled to spouse’s benefits and another benefit (own retirement, disability) does not receive both benefits. Keep in mind that to be eligible for spouse’s retirement benefits, you must be at least 62 years of age and your spouse must be receiving retirement or disability benefits. Generally, if you qualify for benefits on your own record, we will pay that amount first. If the benefit on your spouse’s record is higher, you’ll get an additional amount on your spouse’s record so that the combination of benefits equals that higher amount.
*Under current law, the option to restrict an application extends only to individuals who have attained their full retirement age (currently 66). This option allows couples to start receiving spousal benefits at full retirement age, while letting their own retirement benefit accrue delayed retirement credits. *If you turn age 62 on or after January 2, 2016, you are required or “deemed” to file for both your own retirement benefit and for any benefits you are due as a spouse.
Sometimes, a person may be eligible to more than one benefit at the same time. For example, a person may be entitled as a retired worker on his or her own record and as a spouse on another record. However, a person’s benefit amount can never exceed the highest single benefit amount to which that person is entitled. We hope this provides some clarity. Thanks!
Ryan
Thanks for providing good information but my question still hasn’t been answered. Let me rephrase: all other conditions met, can both spouses use restricted applications and receive spousal benefits on each other’s record at the same time (and delay their own benefits to earn delayed retirement credit)? This is a “Yes” or “No” question.
R.F.
Hi Ryan — sorry for the delay in providing a response to your questions. We wanted to verify our policy and provide you with the correct information. First, the primary entitlement requirement to qualify for “spouse’s benefits”, is that the claimant must be the spouse of a wage earner entitled to (or currently receiving) retirement or disability benefits. Also, under the new law, if you (voluntarily) suspend benefit payments at your full retirement age in order to earn higher benefits for delaying, other benefits payable on your record, such as benefits to your spouse, are also suspended. And, if you have suspended your benefits, you cannot continue receiving other benefits (such as spousal benefits) on another person’s record. As you can see, it isn’t possible for both spouses to file and suspend or to restrict their applications and receive benefits on each other’s record. We hope this provides clarity.
Diane
I retired on January 31 and will be turning 65 in August. Will I receive more Social Security if I wait until 65 even though I not working now?
J C.
Diane, see my question and the IRS response above. I’m still working and will for several more years but I also turn 65 this August. Your short answer is – Yes, you will receive more SS benefits the longer you wait until age 70.
Diane
J Culver, do you happen to know what the difference will be as far as percentage if I wait until 65 to draw my SS benefits since I am not working. I’m wondering if it would make a big difference or would to better to go ahead and start my SS?
R.F.
Please visit our Retirement Age Calculator to find your full retirement age and see how your monthly benefits may be reduced if you retire before your full retirement age.
J C.
Borrowing a phrase from the SS folks, it depends. The short answer is yes, you will collect more monthly benefits if you wait until age 65. In fact, each month you wait, you’ll receive a bit more. If you have requested a SS Annual Benefits report, you’ll see exactly what you’d receive at age 62 and at FRA. There is a percentage factor applied if you apply early but I don’t have that right at hand. In my case, I intend to file and collect benefits in Jan 2018. I will turn my FRA of 66 in August 2018. I’m expecting my monthly check to be about 2-3% less had I waited until August. The good thing is that up to 44,880 in income is excluded in the year you turn your FRA (2017 amount). After that income amount, the income earned up to the month you turn FRA results in a SS deduction of $1 for every $3 you earn. Once you hit your FRA, you can make as much as you want with no SS monthly deduction.
SS people, I hope I haven’t stepped on your toes. I provided no guidance and only spoke of my intentions and plans.
R.F.
We appreciate your participation and thank you for your comment. Our Retirement Estimator provides accurate estimates of your retirement benefit at different ages by accessing your earnings record through a secure interface. The best way to start planning for your future is by creating a my Social Security account online. With my Social Security, you can verify your earnings, get your Social Security Statement, and much more – all from the comfort of your home or office. We have a variety of calculators to help individuals plan for the future. Which calculator you choose depends on what you want to do. We hope this helps!
R.F.
Hi Diane, the benefit amount that you’ll receive, is established at the time you apply for retirement benefits. It is based on the amount of your average lifetime earnings, and your age at the time you applied. Your monthly retirement benefit will be higher if you delay starting it. Our Retirement Estimator gives estimates based on your actual Social Security earnings record. In your case you may need to use our Early or Late Retirement Calculator. Thanks!
Diane
Ray,
I decided to wait until I reach 65 in August to start my SS. I am now receiving vacation pay which I understand does not count as wages. I had heard that if you list the month you want to start your SS, you payment would not start until the next month. My vacation pay will end in July and I need to SS to start in August. I just wanted to verify this. Thanks,
R.F.
Hi Diane. If you want your benefits to begin in August 2017, you would receive your first check in September 2017. You can apply for Social Security retirement benefits and Medicare, three months in advance. When ready, you can complete the online application from the comfort of your home, in as little as 15 minutes. Happy retirement!
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Maggie
I don’t feel it’s right whoever changed it from being 62. This right that they feel we are all living longer is very unfair. We worked all our lives, only to be told it’s no longer 62 anymore, we have to work longer in a society that doesn’t want to hire you if you get layed off at 60. The government borrowed from our social security and never paid it back. What politician had the right to change this. We should ALL be able to retire at our full benefits at 62, this is wrong and I’m outraged by it. I don’t feel well under normal circumstances I would only have 6 more years to go, now I have 12. Just not right!
R.F.
Hi Maggie, you can still apply and start receiving retirement benefits as early as age 62, but if you decide to get benefits before your full retirement age, they will be reduced. We hope this information helps!
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Teri
My late husband was on SSD when he died. I was born in 1953 and am still working. Can I receive his benefits at age 66, then switch to mine (which will be higher) when I quit working at age 70?
R.F.
Hi Teri, a widow can start receiving reduced benefits as early as age 60 (age 50 if disabled). In many cases, a widow can begin receiving one benefit at a reduced rate (as early as 60 years old) and then, at full retirement age (or later), switch to the other benefit at an unreduced rate. Click here to get additional information about Widow’s Benefits. We hope this helps!
carter
born in oct 55 if I take ss at 26% reduction at62 and have retirement penion and dividens is this counted as working income for more reductions
R.F.
Hi Carter. Pension payments, annuities, and the interest or dividends from your savings and investments are not earnings for Social Security purposes.
Sol K.
Thanks for answering my question .I am sending question again . My husband 68 years old , fulfills all other criteria for Medicare except , he doesn’t not have full credits for Medicare . Based on my credits( I have full ) he is eligible , when I turn 62 .
I was told that he will get Medicare ( premium free part A, he has Medicare part B – self pay) , only if I start my benefits at 62 . is it true ??
Do I have to start getting my benefits to get him Medicare ??
I do not want him to get other benefits this time ,only Medicare .
Thanks .
R.F.
Hi 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. Neither the worker nor the spouse need to establish entitlement to monthly benefits for this provision to apply. See our Program Operations Manual System (POMS). Thanks!