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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Mary O.
My husband started collecting social security at full retirement age, I started collecting at 62. If my husband should die what percentage will I receive?
Will my collecting earlier affect what will be paid to me should he die?
Steve R.
I was injured at work on 7/17/2017. My attorney filed in my behalf SSDisability and retirement in October2017. I was 63 years old. It is now April 2018 I will be 64. I checked my social security status. It shows in my disability claim that it is on step 2 of 3. And my retirement is showing step 1 of 2. When can I expect my early retirement and my disability.
Steven R.
I was injured at work on 7/27/2017. My attorney at that time applied for me for social security disability and put me in for early retirement. I was 63 at he time of filing on 10/2017. It is now April I will be 64 . I checked my social security disability status. The chart shows step 2 of 3 . My retirement shows step 1 of 2 . How long do I have to wait for both.
Terry K.
I don’t like wording in #3 above: 1st sentence-a person’s retirement date has no bearing on one’s SS benefit. Taking your SS benefit early does affect your or your surviving spouse’s survivor benefit. Retirement date & early benefits are two different things; 2nd sentence-you say you cannot pay a surviving spouse their full retirement age benefit if you took your retirement benefit early. Why not? If a surviving spouse has his or her own benefit & waits to FRA to take it, they’ll get their FRA benefit. Their surviving spouse benefit will be reduced, not their own.
Lorraine K.
I am 64, born in 11/1953 when is my retirement age to receive full social security benefits?
Rita C.
I stated receiving my full retirement at age 66 (08/31/1950) and I have continued to work full time until April 2017, when i had to limited working due to health reasons,related to work. Now I am going to have to stop work all together soon ,because my hands no longer allow me to hold transducer with out severe pain. As a single women am i entitled to apply for disability.
Cindy
I think it’s disgusting the government borrowed from Social Security and all of us who have worked our life, have to now wait until 67, just to extend benefits. Who creates these ideas and we have no say. The benefits should NEVER have changed, people get sick as they get older, you shouldn’t have to be forced to work, when your dream was tor retire at 62. This is just so wrong and shame on social security for letting this happen
R.F.
Hello Cindy! 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. In the other hand, starting to receive benefits after full retirement age may result in larger benefits. To find out what your full retirement age is, use our Retirement Age Chart.
Our system is set up to take applications three months in advance, and you can apply for your retirement and Medicare benefits online. Please visit our Social Security Retirement Planner for more information.
Also, Social Security is a pay-as-you-go system. Social Security taxes collected from today’s workers pay the benefits of today’s retirees. Any funds in excess of what is needed to pay today’s benefits are invested in special issue, U.S. Government, interest-bearing securities. This investment – the purchase of U.S. Government securities – is what constitutes the “borrowing” that people are sometimes concerned about. Any funds that have been “borrowed” from the Social Security Trust Funds have always been paid back in full, plus interest. Please check out our Trust Fund Frequently Asked Questions page for more information. Thanks!
We hope this helps!
Roy S.
I turned 62 before the changes to Social Security rules in 2017 went into effect. My spouse will turn 62 in 2018. Am I still allowed to “file and suspend” my Social Security payments?
R.F.
Hello Roy, First,if you turn 62 on or after January 2, 2016, and will be eligible for benefits both as a retired worker and as a spouse (or divorced spouse), then “Deemed Filing” applies to you.
To your second question: Yes, you can still voluntarily suspend benefit payments at your full retirement age in order to earn higher benefits for delaying.
See “What do the Recent Social Security Claiming Changes Mean for Me” for more information on the changes of the new law. Thanks!
Diane R.
Can I collect restricted application money on my X, if I was married 20 years, now and wait till I’m 70, to draw my SS, now I’m 2018?
R.F.
Hello Diane. If you were born before January 2, 1954, and have already reached full retirement age, you can choose to receive only the divorced spouse’s benefit and delay receiving your retirement benefit until a later date. If your birthday is January 2, 1954 or later, the option to take only one benefit at full retirement age no longer exists.
See our Benefit Planner: If You’re Divorced, for more information.
Sujata M.
I was born on 1/07/1953.
I want to know the date I have to apply for the Medicare
And
Then
Social security benefits
R.F.
Medicare is our country’s health insurance program for people age 65 or older. You can start receiving your retirement benefits as early as age 62, or delay filing up to age 70. If you decide to get benefits before your full retirement age, they will be reduced. You may find our Early or Late Retirement Calculator helpful.
Our system is set up to take applications three months in advance, and you can apply for your benefits online. 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 April, you will receive your first benefit payment in May.
Please visit our Social Security Retirement Planner for more information. Thanks!