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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Jan E.
Thank you so much. Your information helped a lot!
Jan E.
Make that over 3400 per month.
Jan E.
Hello, I have been receiving my SS benefits since age 62. When my husband turned 66, nearly 4 years ago he started taking benefits on my SS. When he turns 70 in December will he be eligible to receive his full age 70 benefit? Accordingl to the SS table he is eligible for over 3500 per month at that time. Or will it be reduced because he has been getting benefits on me?
R.F.
Hi Jan, thank you for your question. Section 831 of the Bipartisan Budget Act of 2015, made some changes to Social Security’s laws about claiming retirement and spousal benefits. Individuals turning 62 prior to January 1, 2016 who are eligible for both; benefits on their own record and spouse’s benefits, can choose –if they apply for benefits at their full retirement age- to receive only the spouse’s benefit and delay receiving their retirement benefit until a later date. These individuals would be able to collect delayed retirement benefits up to age 70 and receive the highest benefit amount possible under their own record without penalties. We hope this helps!
Rick
Has the earnings limits increased for 2018?
R.F.
Hi Rick. Social Security changes or updates are generally announced each year in late October. As always, we will keep you informed.
wh
I am scheduled to start early retirement in October 2017, I have worked until the end of September, my company pays biweekly. I am to be paid on Oct. 5 for work in September. It will be more than the 1410 limit. why does this count as Oct. income reducing my November benefit by 1/2, if this money was only earned in Sept.
R.F.
Congratulations! After you retire, you may receive 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 call our toll free number at 1-800-772-1213 for further guidance about this issue. Representatives are available Monday through Friday, between 7 a.m. and 7 p.m. Generally, you will experience a shorter wait time if you call later in the week. Thanks!
Wh
I have already called them and that’s why I know this is going to happen
Wh
I called back today, got what seemed to be a very well informed representative who told me that ss didn’t look at what I made before and that I could keep earning as much as I wanted as long as it was below the annual limit, that they looked at it which ever way it was best for me.
Mary V.
Hello. My husband was diagnosed with ALS (Lou Gehrig’s Disease). He filed for disability, but also filed for social security for the interim. I was 62 on 9/1, and know I will have to retire to care for him soon. Am I allowed to collect social security on my own record while he is collecting disability? Also, how will my early retirement ultimately affect an eventual spousal survivor benefit, as his disability payment will be higher than my social security benefit.
Alva J.
I visited a local social security office inquiring about survivor benefits. I was told the year i turn 66 (January 1), not my birthday (September) I could start receiving survivor benefits.
When I called for an appointment to have the above start, SS said I could not get the survivor benefit until I actually turned 66.
R.F.
Hi Alva. Unfortunately, your issue may be a bit more complex than we can handle in this forum. For your security, we do not have access to information about your account in this venue. Please continue working with your local office in this matter.
Maria
in 2014 when I turned 66-1/2 I retire on my ex’s ss.
I kept working & still do. I want to retire on my record as I will receive more $ when I turn 70 next June. Do I make this change before or after my birthdate?
Thank you
R.F.
Hi, Maria. You should apply three months before you want your benefits to start. You can contact us:
•By phone – Call 1-800-772-1213. (TTY 1-800-325-0778) from 7 a.m. to 7 p.m. Monday through Friday.
•In person – Visit your local Social Security office. (Call first to make an appointment.)
Scott A.
Both my wife and I will receive benefits. She is planning on taking her SS at 62 but we will wait until I’m 70 to take mine. If my benefits are higher than hers will she receive more after my passing?
R.F.
Thank you for your question Scott. Generally, survivor’s benefits are paid at a higher rate, and your wife may be eligible for widow’s benefits starting at age 60. However, 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. To get an idea of how this works, visit our Survivors Planner: How Much Would Your Survivors Receive? We hope this information helps.
Ray
Hi my dad was born on March 15, 1956, if he decides to get benefits it will be at a reduce rate is that correct? Also what benefits does my mother get? What other benefits can he apply for since he cannot work anymore because of back problems. Please let me know.
Thanks.
R.F.
Thank you for your questions Ray. If your dad was born in 1956, his full retirement age is 66 and 4 months. You are correct, if a person begins to receive benefits at age 62 or prior to their full retirement age, benefits are reduced. The reduction factors are permanently applied to all of the benefits the person may qualify for. In the other hand, we pay disability benefits to individuals who are unable to work because of a medical condition that is expected to last one year or more or to result in death. In addition to meeting our definition of disability, individuals must have worked long enough–and recently enough–under Social Security to qualify for disability benefits. If a person thinks that he or she meets our definition of disability, we encourage them to apply for disability benefits as soon as when they become disabled. Please visit our “Frequently Asked Questions” web page on disability for more information.
Generally, the worker’s spouse may be eligible for a benefit based on the worker’s earnings, at age 62. See our Retirement Planner: Benefits For Your Spouse to learn more. We hope this information helps!