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.
Did you find this Information helpful?
Tags: full retirement age, retirement benefits, Social Security benefits
See CommentsAbout the Author
Jim Borland, Assistant Deputy Commissioner, Communications
Jim Borland, Assistant Deputy Commissioner, Communications
Comments
Comments are closed.
Vernon
I have a question that I have researched and asked different people but have received no clear answer. When does the year begin for the year you reach your full retirement age if your birthday is in January? It does not seem fair that those of us born in the first 3 – 4 months of a year are penalized regarding max you can make the year you reach full retirement age if this is based on calendar year rather than the preceding 12 months.
Deborah K.
I received a retro payment from soc sec for benefits Jan 2017-Jun 2017. A letter came a few days later and the way it reads i believe Medicare payments have been deducted from the retro (it says Benefits due for January 2017 through June 2017 with premiums for medical insurance deducted). I have paid medicare out of my pocket since i started with medicare in 2016. The last payment I made was for July, Aug and Sept of 2017. I also see that the medicare premium will be deducted from my first check and perhaps the next one. How can I obtain the funds that were deducted from my retro for medicare and the first couple of checks I will be receiving?
R.F.
Hi Deborah. Unfortunately, but for security reasons, we do not have access to personal records in this blog. One of our representatives should be able to provide you with an explanation and answer your questions about this matter. Please call our toll free number at 1-800-772-1213. Representatives are available Monday through Friday, between 7 a.m. and 7 p.m. Or contact your local Social Security office directly. Thanks.
bob f.
I started collecting ss at age 62 I am now 69 and now 100 percent disabled for the veteran administration am I entitled to ssi?
Christine
I applied for My social security to start in June this year which was 4 months before I turn 66. The request was granted but the amount was going to be $0.00 because of My earnings. I requested a withdrawal of My claim and it was granted in July. Birth month is September and I will be 66, when can I apply again to be able to draw full Social Security benefits?
R.F.
Hi Christine. If you were born between 1943 And 1954, your full retirement age is 66. If you work and are full retirement age or older, the amount you make at work will not affect your Social Security benefits, no matter how much you earn. Please read our publication “How Work Affects Your Benefits” for more information. Our system is set up to take applications three months in advance. You can apply for your retirement benefits online at any time now. 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 September, you will receive your first benefit payment in October. We hope this helps!
Lu A.
I am 14 years older than my husband. I will be 66 in February of 2020. He will not be 67 until August of 2035. If I start drawing my full retirement benefits at 66 and if after that my husband dies before me can I then start drawing his Social Security instead?
R.F.
Hi Lu Ann. The survivor’s benefit amount you can get is a percentage of the deceased’s basic Social Security benefit. You would have to check with us to see if you qualify for a higher benefit under those circumstances. Please visit our “Survivors Planner: If You Are The Survivor” for more information.
Lisa
I Posted this once but haven’t gotten a reply. So i guess i will try again…I have a question? My husband gets SSI retirement and he still works 20 hours a week.But my question is if i work will they take away from his SSI? Because me working would put us over the 16, 920. Please help.
R.F.
Hi Lisa, our apologies if we missed your question. The Supplemental Security Income or SSI program is a needs based program that gives cash assistance to disabled individuals with limited income and resources. The amount of SSI benefits is based, in part, on the income and resources available to the individual. For SSI eligibility, we will take into consideration any income and resources available to you, as the spouse.
If you’re referring to your husband’s retirement benefits, and if your husband is under full retirement age and working, he is allowed to earn up to $16,920 this year, without affecting his benefits. Your wages/income does not affect his retirement benefits. You can call our toll free number at 1-800-772-1213 for further assistance. Representatives area available Monday through Friday, between 7 a.m. and 7 p.m. Thanks!
Sandra R.
Hi – I will reach full retirement age this year in Sept. 2017 – (66 yrs old) – I am also working part-time and have SS taxes deducted from my paycheck. If I start to collect SS in Sept and still work at contributing to SS, what is the benefit of this? Is it best to request from my employer to become a 1099 employee? If I stay on payroll and contribute to SS will my benefits ever increase later down the road?
Thank you so much
R.F.
Hi Sandra. Generally, if you continue to work while receiving retirement benefits, your monthly benefit amount may increase. Each year, we review the records for all working Social Security recipients to see if additional earnings may increase monthly benefits. To learn more read our publication “How Work Affects Your Benefits”. Thanks!
cathy
i’m 65, recently lost my job and am considering filing for my soc sec. if i do….and my spouse dies….can i then refile for spousal benefits on him? right now my soc sec is more than the 50% i’d get from his retirement benefit but it is much less than i would get as a surviving spouse. i don’t mean to be morbid but as he is the main provider and i’ll still have bills to pay i’d like to get the full amount i’m due. is it possible to make the change from collecting on my work record to getting survivors benefits?
Fran
My Spouse is 67 and receiving social security. I am still working. Can I draw a portion of his social security as his spouse even if I am still working? I am 65.
Lisa
I have a question? My husband gets SSI retirement and he still works 20 hours a week.But my question is if i work will they take away from his SSI? Because me working would put us over the 16, 920. Please help.