When did retirement age change 62?

1983
Under legislation enacted in 1983, the FRA is increasing gradually from 65 to 67 over a 22-year period (for those reaching age 62 between 2000 and 2022). The FRA will reach 67 for workers born in 1960 or later (i.e., for workers who become eligible for retirement benefits at age 62 in 2022).

What was the retirement age in 2014?

In the U.S. the full retirement age is currently 66 years and two months for those born in 1955 and will gradually increase to 67 for those born in 1960 and after. Full retirement age for various countries’ retirement systems also varies, typically between 65 and 67 years of age.

Under legislation enacted in 1983, the FRA is increasing gradually from 65 to 67 over a 22-year period (for those reaching age 62 between 2000 and 2022).

Is early retirement still 62?

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 start receiving benefits early, your benefits are reduced a small percent for each month before your full retirement age.

When was Social Security age 62?

2000
The age for collecting full Social Security retirement benefits will gradually increase from 65 to 67 over a 22-year period beginning in 2000 for those retiring at 62. The earliest a person can start receiving reduced Social Security retirement benefits will remain age 62.

What’s the retirement age for someone born in 1955?

If you were born in 1955 your full retirement age is 66 and 2 months. 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.

When do you get your full retirement benefits?

The chart below provides examples of the percentage of your full retirement benefit amount you and your spouse would receive from age 62 up to your full retirement age. * If your birthday is on the 1 st of the month, we figure your benefit as if your birthday were in the previous month.

Why did I decide to take Social Security at 62?

Well, there are several reasons: Life is short — or at least, it often is. If I can retire early, with the help of Social Security income, I’ll be able to read lots of books I’ve been meaning to get to, visit loved ones I’ve been meaning to visit, and take trips that a working life hasn’t easily permitted.