The age you start receiving Social Security retirement benefits permanently impacts your monthly payment amount. Claiming earlier than your full retirement age will reduce your benefit, while delaying past your full retirement age can increase it.
Your Social Security benefit amount is directly tied to the age you choose to begin receiving it. You can start benefits as early as age 62, but each month you claim before your full retirement age (FRA) results in a permanent reduction of your monthly payment. Conversely, delaying benefits beyond your FRA, up to age 70, earns delayed retirement credits that permanently increase your monthly benefit amount.
Social Security rules and benefit amounts can change, so it is important to verify current information with the official Social Security Administration.
What is the earliest age I can claim Social Security retirement benefits?
You can begin claiming Social Security retirement benefits as early as age 62. However, choosing to claim at this age will result in a permanently reduced monthly benefit. The reduction is calculated based on how many months you claim before reaching your full retirement age, which varies depending on your birth year. For example, claiming at 62 instead of your full retirement age of 67 could reduce your monthly benefit by up to 30%.