Full Retirement Age

Full retirement age (FRA) is the age in which a retiree can receive full Social Security benefits. FRA changes based on when the retiree was born.

Before 1938, FRA was 65 years old. In 1983, Congress passed a law gradually increasing the FRA because retirees were living longer. For retirees born between 1938-1960, the full retirement age is as young as 65 and two months and as old as 66 and 10 months. Retirees born after 1960 must be 67 to receive full Social Security benefits.

Retirees can begin taking Social Security benefits at 62. However, if they wait until their FRA, they can receive up to 8% more benefits. Some retirees may not have the financial means to delay Social Security benefits. Retirees in more stable financial situations should consider waiting until FRA to receive the most benefits.