SOCIAL SECURITYFact SheetSocial SecurityIncrease in Retirement AgeThe Social Security Amendments of 1983 (H.R. 1900, Public Law 98-21) contained two provisions which may have an impact on when an individual decides to retire. The two provisions are an increase in the retirement age that can first affect individuals retiring in 2000 and an increase in the delayed retirement credit for those who work beyond full retirement age. Show Increase in Retirement Age
The earliest a person can start receiving Social Security retirement benefits will remain age 62.
The new Social Security Statement:
SSA Press Office 449 Altmeyer Bldg. 6401 Security Blvd. Baltimore, MD 21235 What is full retirement age for Social Security in 2022?After the normal retirement age (NRA) reaches 67 for those age 62 in 2022, index the NRA to maintain a constant ratio of expected retirement years (life expectancy at NRA) to potential work years (NRA minus 20). We assume the NRA will increase 1 month every 2 years.
At what age do you get 100 of your Social Security benefits?If you start receiving benefits at age 66 you get 100 percent of your monthly benefit. If you delay receiving retirement benefits until after your full retirement age, your monthly benefit continues to increase.
Can you collect Social Security at 66 and still work full time?When you reach your full retirement age, you can work and earn as much as you want and still get your full Social Security benefit payment. If you're younger than full retirement age and if your earnings exceed certain dollar amounts, some of your benefit payments during the year will be withheld.
Is it better to take Social Security at 62 or 67?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 delay taking your benefits from your full retirement age up to age 70, your benefit amount will increase.
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