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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Becky L.
I have been divorced twice, each marriage was over 10 years long. One, 23 years long. I am now single and plan on remaining so. When I am of qualifying retirement age, could I claim SS retirement benefits from either or both of my former spouses and if only one, which one…? Or does it matter, and is it contingent on when he/they apply to receive their SS retirement benefits?
A.C.
Thanks for your question. If your ex-spouse has not applied for retirement benefits, but can qualify for them, you can receive benefits on his or her record if you have been divorced for at least two years and meet all other eligibility factors. For more information, please review our Retirement Planner: If You Are Divorced. Hope this helps!
vrd
Eventhough I paid $120K in taxes everybody felt i am burden on government and family. i am collecting disability. i am hearing the voices and it is toucher to me. i feel that instead of i paid ssi if government kept money in seperate account like 401 k and private disability insurance then nobody would have problem or jealous on me. i try to comitt sucide 5 times because of it. one family save me. i donot have any thoughts to harm anybody. i would have atleast $300k in my account plus i would have got more in disability benefit and health benefit. i would have never worry about loosing my benefits.
John B.
Come on, if you really wanted to die you would have died, so you made sure someone was close by to save you.
Dawn
You are a mean spirited person. Can’t believe you would say that to a suicidal person. Shame on you.
mathew p.
the dirty politicians robbed 2.6 trillion from the fund do you think its going to get paid back we should take it from there fund fair is fair
Sandy C.
I was born in March of 1958. When can I draw full SS?
A.C.
Hi, Sandy. Thanks for your question. To find your full retirement age, visit our Retirement Planner: Benefits By Year Of Birth web page.
George E.
born 03/23/37. I stated investing same amount as was with held from pay checks (starting in 1953 DRIP’S) I now get more in dividends Then S.S. pays, should have bought more muni’s, results now Gov. Takes a lot in taxes plus I have to pay income tax on my S.S.
CLIFTON H.
I AM 63 AND WILL BE 64 ON 7-8-2017 AND SSDI SAID THAT I WOULD GET MY FULL BENEFITS IN THE YEAR OF 2018 AND WHEN DO I GET MY MEDICARE, THEY ALSO SAID 1-2018, CAN YOU TELL ME IF THIS IS CORRECT. THANK YOU,
Robert C.
This all smells all wrong, you can not change the rules in the middle of the game to suit you. We all play by the same rules so let’s make some up. The cost to live on. How much does it take a man and women to live on when they both are retired 65 or ,66, let’s not get into months unless it’s 6 months, OK ! So it will be 66 and 6 months. Good number right. OK now no one who has over 900,000.00 dollars, that’s nine hundred thousand dollars in the bank will not be in the SS ring of rings . 2200.00 apiece for men and 2500.00 a month for women.. they need a little more.
CMF
Congress’ changed the rules not SS.
Karen S.
I am still working and is planning to continue to work until I am 70. I was drawing Disability but now they are saying since I am 66 (was born 11/04/1950) I am drawing full retirement. But if I keep working will my benefits go up because of still putting in for Social Security taxes which I pay 2 weeks?
Brian
How were you getting disability if you were still working?
duwayne e.
I started recieving S.S. in Dec. 2016 i will turn 62 in June of this year..Am i eligible for full or reduced benefits when i turn 62 years old ???
jay
if SS means social security, then it must be disability. Your benefit will not change because you are at your full benefit level already. you don’t get both
William
Your statement ” 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.” Is this statement based on the surviving spouse drawing on the benefits of the deceased? My spouse hasn’t worked enough quarters to receive benefits on her own. I believe she can receive benefits and half my rate on my account. is that correct? If I pass before her does that rate go up to the benefit I was receiving at time of death?
Tiger
She will receive 100% percent of what you were receiving when you were alive if she is her full retirement age.