When can I collect Social Security if I was born in 1950?
If you were born between 1943 and 1954 your full retirement age is 66. You can start your Social Security retirement benefits as early as age 62, but the benefit amount you receive will be less than your full retirement benefit amount.
What year do you have to be born to retire at 62?
Full Retirement and Age 62 Benefit By Year Of Birth
|Year of Birth 1.||Full (normal) Retirement Age||Months between age 62 and full retirement age 2.|
|1958||66 and 8 months||56|
|1959||66 and 10 months||58|
|1960 and later||67||60|
What is full retirement if born in 1950?
Social Security Administration. If you were born in 1950, do you know your full retirement age? It’s 66.
What is the full retirement age for someone born in 1948?
But over the last couple of years, the Social Security Administration (SSA) changed the full retirement age twice – first to age 66 for people born from 1948 to 1954, then again to age 67 for people born in 1955 or later.
What is the earliest age you can collect Social Security benefits?
Starting Your Retirement Benefits Early. You can start receiving your Social Security retirement benefits as early as age 62. However, you are entitled to full benefits when you reach your full retirement age. If you delay taking your benefits from your full retirement age up to age 70, your benefit amount will increase.
What happens if I file for Social Security at age 62?
By filing at 62, or any time before you reach full retirement age, you forfeit a portion of your monthly benefit. If you were born in 1960 or later, for instance, filing at 62 could reduce your monthly payment by as much as 30 percent. AARP’s Social Security Benefits Calculator can provide more details on how filing early reduces benefits.
What month do you get your Social Security disability at 62?
But if you were born between Oct. 3 and 31, your first full month at 62 is November. If you want to start your benefits as soon as possible, you can apply in July. There is a one-month lag in the benefit payment.
What is the full retirement and age 62 benefit by year?
Full Retirement and Age 62 Benefit By Year Of Birth Year of Birth 1. Full (normal) Retirement Age Months between age 62 and full retiremen At Age 62 3. At Age 62 3. 1958 66 and 8 months 56 $716 $333 1959 66 and 10 months 58 $708 $329 1960 and later 67 60 $700 $325