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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Wayne B.
I am planning on retiring at the end of January 2018 and my wife doesn’t work, how much will approximately, will all Medicare insurance? She just completed her last chemo and all test have came back good and chemo did what is was too. I had a bone transplant in September 2015 and medicine regular blood checks but other than that, pretty well healthy
R.F.
Hello Mr. Blair! Information about Medicare changes for 2018, when announced, will be available at http://www.medicare.gov.
Nora C.
If this is true why am I still receiving Disability and not Social Security at 65 years of age, shouldn’t it have changed when I turned 65? Every time we get a new President the age changes 2 years and screws me up, thats not right!
R.F.
Hi Nora. When you receive disability benefits under the Social Security Disability Insurance (SSDI) program, we automatically convert your disability benefits to retirement benefits, when you attain your Full Retirement Age. Full retirement age had been 65 for many years. However, beginning with people born in 1938 or later, that age gradually increases until it reaches 67 for people born after 1959.
Debra R.
Not sure how to word this, but here it goes. If my husband is a higher earner and we both retire at 66 (born in 54), can I hold out from collecting my Social Security and get 50% of my spouse retirement. Or do I need to start mine and the what the difference is up to 50 % of his.
R.F.
Hi Debra, thank you for your question. If you were born between 1943 and 1954, your full retirement age is 66. 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 credits up to age 70 and receive the highest benefit amount possible under their own record without penalties. We hope this information helps!
Kay
SS notified me that I will be receiving my benefits in February. I filed in October, my birthday is in December. I thought the benefits were paid the month after your eligibility month, which would be January. Why are mine being paid in February? Thanks so much
R.F.
You’re right Kay, your Social Security benefits are paid the month after they are due. However, Social Security pays your benefit after you have lived throughout the month. At 62, the first month many people are eligible for benefits may be in the month after their birthday. When starting benefits after age 62, people are eligible to be paid for the month they file, since they were previously age 62 throughout the month. Please contact our toll free number at 1-800-772-1213 if you need further assistance. Representatives are available Monday through Friday, between 7 a.m. and 7 p.m. Generally, you will have a shorter wait time if you call later in the week, thanks.
Tom
I am 59, my wife is 58. I started receiving Social Security Disability this year. If I die before my or my wife’s full retirement age would she continue to receive my current benefits or would they be stopped until she reached her full retirement age? Yes, she would collect my Social Security which would be way higher than hers.
R.F.
Thank you for your question Tom. Your wife could be eligible to receive reduced widow’s benefits at age 60 (age 50 if disabled). Please visit our Survivor’s Planner for more information.
CFleet
I work for local, city government and pay into OPERS and Ohio Deferred Comp. I am 64 and plan to retire in 5 years (age 69) with 30 years service with the city. I am divorced (married for almost 20 years) Can I start receiving SS on my ex’s record when I turn 66, and if I do, will that reduce the monthly benefits I will get from OPERS and Ohio Deferred Comp when I retire at age 69?
Bob P.
This is an outstanding service to help explain a very confusing process. Thank you! I have two questions My wife and I are both 68. She started receiving her ss benefit at age 62. I am delaying mine until 70 1/2 to receive the higher benefit. 1: My full retirement benefit is/will be more than double the benefit my wife currently receives. Can she now receive the spousal benefit instead of her own current benefit? (I think that would be about $300/month more than she receives now.) 2: Can I somehow receive a spousal benefit on her current payment while I continue to delay my own benefit payments until I reach 70 1/2? Sorry for the dumb questions but I have a really hard time understanding the various options. Thanks!
R.F.
Hi, Bob. Remember that the benefit your wife can receive on your record, can only be equal to one-half of your full retirement amount, if she starts receiving benefits at her full retirement age. If a person begins to receive benefits at age 62 or prior to their full retirement age, their benefits are reduced. The reduction factors are permanently applied to all of the benefits the person may qualify for. Your wife may still be eligible to collect benefits on your record when you apply for your benefits. We will have to review her record at that time, to see if she qualifies for a higher benefit amount.
In the other hand, the new rules specify that if you turn 62 before January 2, 2016, deemed filing rules will not apply, if you apply for benefits at full retirement age or later. You can choose to receive only the spouse’s benefit and delay receiving your retirement benefit until a later date, and earn delayed retirement credits up until age 70. The benefit increase no longer applies when you reach age 70, even if you continue to delay taking benefits. Please call our toll free number at 1-800-772-1213 and speak to one of our agents for further assistance. Representatives are available Monday through Friday, between 7 a.m. and 7 p.m. Generally, you will have a shorter wait time if you call later in the week or later during the day. We hope this helps.
Bob P.
Thank you very much, Ray. I will take your advice and call the number at the suggested times. I really appreciate the help.
Bubba
I turn 65 in December 2017, I want to start drawing SS in January 2018. Will they go back and pick up December 2017 and say that I am over the earnings limit for the year and lower my benefit for just December?
R.F.
Your Social Security benefits are paid the month after they are due. So, for instance, if you want your benefits to begin with the month of January, you will receive your first benefit payment in February. In this scenario, your wages for the month of December will not affect your benefits. Remember, you can continue to work and receive your Social Security retirement benefits at the same time. However, if you plan to continue working, there are limits on how much you can earn each year prior to attaining your full retirement age. To learn more, read our publication: “How Work Affects Your Benefits”. We hope this information helps!
Jane
My husband is receives a reduced benefit because he began collecting before his full retirement. He has since reached the full retirement age. I am 10 years younger but have put in all the necessary quarters. My monthly amount is already higher than he receives. If I die before my full retirement (but had not applied) is he entitled to my higher amount now?
KIm T.
I am retiring at age 51 with 30 years of service with the state of NC. If I take option 4 for NC retirement and receiving a part of my social security money now, may I still work at private industry or a private school and make any amount even though I am getting the leveling social security? Can I make as much as I want and still get my state retirement an social security leveling even though I return to work?
If so, is the amount I can make unlimited or limited if I choose social security leveling when I retire?
If it is limited, how much can I make?
R.F.
Hi Kim. The earliest a person can start their Social Security retirement benefits is at age 62. We suggest you contact your state retirement office for assistance. Thanks.