What is the age of retirement of social security?

Age of retirement of social security is the age at which a person is eligible to gain the full advantage of social security management (SSA) to which he is entitled. Many people consider retirement age at the age of 65, but that's not always. They differ depending on the year in which the person was born.

When creating the Social Security Act of 1935, the retirement age was set at 65 years, and therefore many people consider the normal age to retire as 65. Over time, the United States Congress evaluated the average life of the United States citizens and decided that the expectations of life were growing. In view of this, Congress voted to increase the retirement age used for full social security benefits. Over the period of more than 20 years of social security remires, it should have ranged from 65 to 67 years, which increases by months than years. The retirement age did not increase every year. Instead remained stable for 11 years of birth and left the age of leavingOdu at 66 years for anyone born between 1943 and 1954.

SSA maintains a chart that people can use to determine their retirement age. As shown in the graph, people born before 1937 are entitled to full pension advantages when it becomes 65. Those born in 1938 are eligible to be 65 and two months, while people born in 1939 are eligible when they are 65 and four months. For each year there is a two -month delay in which the increase is used until 1943, when the age of retirement changed to 66 for anyone who was born from 1943 to 1954.

For those born after 1954, the retirement age increased again in two months of steps. A person born in 19555Opatila aged 66 and 10 months. Anyone born in 1960 or any year after being eligible when he reached 67 years.

If it is desirable, the person can register and receive benefits in the area of ​​social security at the age of 62. Because 62 is not full of retirement age, no matter what year of birth, a person who receives benefits would gain a reduced amount. For example, if someone was born in 1943, his age to retire social security would be 66 years old. If he wanted to retire at the age of 62, his benefits would be reduced by the percentage of the SSA. The reduction would apply for the whole time when it gained benefits, even after reaching a normal retirement age.