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. john v.

    HELLO – CAN MY SOCIAL SECURITY GO UP IF I WORK PART TIME-I RETIRED A 63 AND 8 MONTHS WILL IT CHANGE AT 66

  2. Aurora

    What is my full retirement age. My birthday is 03/09/53?

  3. Greg

    I do not have 40 credits, when I retire will I be able to work off of my wife’s social security while she is still working

  4. Bobby K.

    Almost all explanations on drawing stratagies assume that the wife is younger and earned less than the husband. We are not a typical couple. My wife is currently 60 and the lower wage earner. I’m currently 53 and the higher wage earner. If she draws at her FRA and I wait until age 70 to draw my own benefit, when can she draw a spousal benefit? Can she draw once I reach my FRA or does she have to wait until I start drawing my own benefit at age 70?

  5. Ken M.

    I’m here in Texas and am 66 years old, I’ve worked for 33yrs I haven’t applied for my SS. Retirement yet but being a Disabled Veteran I get V.A. Non-Service Connected Disability, however at the beginning of each year everything goes up in cost that the VA Comp. Isn’t enough to hardly get by, my question; can I get my S.S. Retirement & hold on to my V.A. Non-Service Connected disability at the same time? Housing cost etc. is Overwhelming.

  6. DEBORAH D.

    when i turn 66 this year can i collect 1/2 of my husbands social security and right now he is working and so am i but he also collects social security, will that effect his check now he gets from social security???

  7. Gena D.

    What happens when I go from SSDI to Retirement at 66 years old? Will I still be disabled? Will I be pushed into working after being SSD for 34 years?
    Thank you,
    Gena

  8. Shirlene O.

    I was born Feb 23, 1957. When can I receive benefits from my husband’s SS? Will that affect my benefits?
    Can I collect from his before I retire?

    • R.F.

      To qualify for spouse’s benefits, you must be at least 62 years of age. To learn more about Social Security spouse’s benefits and your own retirement benefits click here. Also, see the information on the recent Claiming Changes and Deemed Filing.
      Our Retirement Planner provides complete information about your retirement benefits. Thanks!

  9. Jackie W.

    I am turning 66 August 24, 2018. When should I apply for monthly social security benefits?

  10. Thomas R.

    Both my wife and I have worked. We get Social Security for both of us as long as we are alive, correct?

    • R.F.

      Thank you for your question, Thomas. Generally, Social Security benefits end upon your death or after a determination by the Social Security Administration that you no longer qualify.

Comments are closed.