“Full retirement age” is the age when you get 100% of your Social Security benefit. Start before it, and your check is smaller for life. Start after it, and your check is bigger for life.
For anyone born in 1960 or later, full retirement age is 67. People born in 1960 turn 67 in 2027, so 2027 is the first year this group reaches it. From here on, the age is 67 for everyone who has not yet retired.
How we got here
Full retirement age used to be 65. A law passed in 1983 raised it slowly, a couple of months at a time, for people born from 1938 on.
| Year you were born | Full retirement age |
|---|---|
| 1943 to 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 10 months |
| 1960 or later | 67 |
What you get at each age
You can start Social Security any time from 62 to 70. Here is how much of your full benefit you get:
| Start at | Share of full benefit | If your full benefit is $2,000 |
|---|---|---|
| 62 | 70% | $1,400 |
| 63 | 75% | $1,500 |
| 64 | 80% | $1,600 |
| 65 | 86.7% | $1,733 |
| 66 | 93.3% | $1,867 |
| 67 | 100% | $2,000 |
| 68 | 108% | $2,160 |
| 69 | 116% | $2,320 |
| 70 | 124% | $2,480 |
Each year you wait after 67 adds 8%. There is no gain from waiting past 70.
When does waiting pay off?
Starting at 62 means more checks, but smaller ones. Waiting means fewer checks, but bigger ones. The “break-even” age is when the person who waited catches up.
Using the $2,000 example:
- 62 vs 67: The person who waits catches up at about 78 and a half.
- 67 vs 70: The person who waits catches up at about 82 and a half.
If you expect to live past those ages, waiting usually gives you more money in total. If your health is poor, starting earlier can make sense.
Why this matters more if you have a pension
Many teachers, police officers and firefighters retire from their pension in their 50s or early 60s. That is often well before 67. The good news is you do not have to start Social Security at the same time.
Your pension can carry you through those years. Living on the pension and starting Social Security at 67 or 70 can mean a much larger check for the rest of your life. That bigger check also gets a bigger raise each year, because raises are a percentage.
Here is an example. James retired from the fire department at 55 with a pension. He also earned Social Security from a part-time job and work before joining. His full benefit at 67 would be $1,200.
- If he starts at 62, he gets $840 a month.
- If he waits to 70, he gets $1,488 a month.
His pension covers his bills, so waiting costs him little, and he gets $648 more every month for life.
Married? Think about your spouse too
When one spouse dies, the survivor keeps the larger of the two Social Security checks. So if the higher earner waits until 70, the survivor’s check is bigger too, possibly for many years. Since the Government Pension Offset was repealed, this now helps retired public workers as well. Try the spousal and survivor calculator.
Medicare is still 65
Full retirement age for Social Security is 67, but Medicare still starts at 65. If you wait to start Social Security, you need to sign up for Medicare on your own when you turn 65. Sign up during the seven months around your 65th birthday to avoid a lifelong late penalty, unless you have qualifying coverage from a current job.
Your pension has its own retirement age
Your pension plan’s normal retirement age is often lower than 67. Many teacher plans pay a full pension at 60 to 65, or earlier with enough years, such as the “Rule of 80” in Texas. Police and fire plans often allow full pensions after 20 or 25 years. Use When can I retire? to find your plan’s date.
Questions people ask
Will full retirement age go up to 68 or 70? Some people have proposed it, but under current law it stays at 67.
Can I change my mind after I start? Within 12 months, you can withdraw your claim if you pay back what you received. After that, you can stop payments at full retirement age to earn extra credits until 70.
Does working after 67 affect my check? No. The earnings limit ends at full retirement age. See how much you can earn on Social Security in 2027.
See your pension and Social Security side by side in the pension and Social Security calculator.