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1.
Retiring
At Full Retirement Age..
To retire, you must
have earned 40 credits. See the table below to determine
your full retirement age.
|
Year of Birth: |
Full retirement age: |
|
1937
or erlier |
65 |
|
1938 |
65
and 2 months |
|
1939 |
65
and 4 months |
|
1940 |
65
and 6 months |
|
1941 |
65
and 8 months |
|
1942 |
65
and 10 months |
|
1943-1954 |
66 |
|
1955 |
66
and 2 months |
|
1956 |
66
and 4 months |
|
1957 |
66
and 6 months |
|
1958 |
66
and 8 months |
|
1959 |
66
and 9 months |
|
1960
and up |
67 |
2.Retiring Early:-
If you have earned 40
credits, you can start receiving Social Security benefits
at 62 or at any month between 62 and full retirement
age. However, your benefits will be permanently reduced
based on the number of months you receive benefits
before you reach full retirement age.
If you retire before
full retirement age of 65, your benefits will be reduced:-
20 percent at age 62; 13 1/3 percent at age 63; or
6 2/3 percent at age 65.
If your retirement
age is 66, they will be reduced:- 25 percent at age
62; 20 percent at age 63; 13 1/3 percent at age 64;
or 6 2/3 percent at age 65.
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