About Social Security Retirement Benefits

Social Security provides monthly retirement benefits to eligible workers in the United States. Your full retirement age (FRA) depends on your birth year, typically between 65 and 67. Benefits are reduced if you retire early (before FRA) and increased if you delay retirement (up to age 70).

Understanding your FRA and the effect of early or delayed retirement is crucial for planning your finances and maximizing your Social Security benefits.

Example: If your FRA benefit is $1,600 per month, retiring before or after FRA changes the amount you receive:

• Retiring at 62 might give around 75% of $1,600 → $1,200/month.
• Retiring at FRA gives 100% → $1,600/month.
• Delaying to 70 might give 132% → $2,112/month.