Retirement

2017 Brings New Changes to Full Retirement Age

January 6, 2017 • By

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Last Updated: August 19, 2021

3 elderly people siting on a stoopEvery 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:

  1. 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.
  2. Your monthly benefits are reduced permanently if you start them any time before full retirement age.
  3. 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.
  4. 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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About the Author

Jim Borland, Assistant Deputy Commissioner, Communications

Jim Borland, Assistant Deputy Commissioner, Communications

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Comments

  1. Ruth F.

    If the wife has been married before and divorced and is 74, and currently married to a 55 year old and they have been married for 30 years, can she draw social security off of the divorced husband or current husband? Naturally the current husband isn’t drawing social security yet.

  2. Deb

    I applied for early social security in April 2017 at 62 years old. I did not start recieving benefits until June 2017. I dropped down in April 2017, from full time at my job to part time only working 5 days every 2 weeks I was told I could not make more than $16,920.00 per year. My question is, Will Social Security count the full time earnings from Jan – April, even though I didnt apply until April 2017 and started recieving my monthly S.S., benefits in June 2017?
    I am worried that I have gone over the limit that I was told I could make even though I didnt start to collect until June.

  3. Tamela F.

    This is crazy, its a shame a person has to work for ever before they can retirer on ss.

  4. Robert

    Hello, i am taking my social security at 62 and i work part time. I will not gross past $17,000.00 so my social security. Is $1146.00 per month. My wife is 58 and works, will her income affect my social security? Thank you

  5. Michelle

    I forgot to add that I was receiving disability at the time.

  6. Michelle

    My husband died at the age of 82, in 2016. At that time he was receiving over 1400.a month. On my birthday February 21,2017, I turned 62. I am only receiving 497.00. I feel cheated. Not fair how options are presented to you.

  7. Delbert M.

    I need to know when to sign up. I will be 62 in Feburary

    • J.Y.

      Hi! There are a lot of factors that go into deciding when to retire. Visit our Retirement Planning page to estimate your retirement benefits and determine the best retirement age for you. We hope this helps!

  8. Richard W.

    At what age can my wife draw a full 50% of my social security. Must I die before she gets a full 50%.
    she is drawing a portion of my benefits now but not a full 50%

    • R.F.

      The spouse’s benefit your wife may be eligible to receive on your record, can equal to one-half of your full retirement amount only 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. These reduction factors are permanently applied to all of the benefits the person may qualify for. Visit our Retirement Planner: Benefits For Your Spouse for more information. Generally, Survivor’s Benefits are paid at a higher rate. To learn more, see our Survivors Planner: How Much Would Your Survivors Receive? Thanks!

  9. Douglas L.

    I will turn 66 on 01/09/18. When can I start drawing social security AND continue working full time?

    • R.F.

      You have great questions Douglas! 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. Full retirement age is the age at which a person may first become entitled to full or unreduced retirement benefits. Also, when you reach your full retirement age, you can get your Social Security benefits no matter how much you earn. See our “Retirement Planner: Getting Benefits While Working” for more information.
      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, when ready, you can apply for your benefits online.
      If you have specific questions, 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. We hope this information helps!

    • Phil

      Douglass, I’m not a SSA person, just someone who also turns FRA 66 in 2018. There is a special rule you need to know about. Just Google “What is the rule about earnings in your first year of retirement.” Also, there is a pamphlet titled How Work Affects your Benefits. It will explain exactly what you want to know.

  10. Anne p.

    I’ll b 65 in July if I retire how much will I get and can I still wk if so how long and does it affect my benefits permanently

    • R.F.

      Great questions, Anne. You can still work and receive your Social Security retirement benefits at the same time. However, if you are younger than full retirement age and make more than the yearly earnings limit, your benefits can be affected. To learn more, please visit our Frequently Asked Questions web page or read “How Work Affects Your Benefits”.
      The earliest age to apply and receive Social Security Retirement Benefits is 62. However, if you decide to get benefits before your full retirement age, your benefits will be reduced. You can create a My Social Security account to review your earnings record and get an estimate of your future benefits. When you are ready, you can complete your application for retirement benefits online. We hope this information helps!

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