Full retirement age is the age used by Social Security for an unreduced retirement benefit based on your work record.
What it means
The age depends on year of birth. Starting retirement benefits before that age usually lowers the monthly amount. Waiting later can raise it up to age 70.
Full retirement age is a Social Security term. It is not a rule that says when you must stop working, and it is not the Medicare eligibility age.
A simple example
Two people have the same Social Security work record. One starts retirement benefits before full retirement age. The other waits until full retirement age. The first person generally receives a smaller monthly amount because the benefit is expected to be paid for more months.
Waiting longer can raise the monthly amount up to age 70, but waiting also means giving up checks now. The better choice depends on health, work, other income, cash needs, taxes, and the effect on a surviving spouse. Full retirement age is a calculation point—not a command to retire or claim benefits on that birthday.
What people often miss
Starting age can also affect work rules and the survivor benefit left after one spouse dies.
Use your own Social Security record. A sample benefit from a website may be far from your number.
Three questions worth asking
- What is my full retirement age?
- What are my estimates at 62, full retirement age, and 70?
- How will we pay bills if I wait?
Checked against primary sources
This explanation was checked against the sources below. Rules and limits can change, so check the source before making a decision.
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