The ideal retirement age in the United States remains a topic of national interest for the millions of older adults beginning to plan their post-retirement life. Although Social Security (SSA) allows individuals to begin receiving benefits as early as age 62, the fact is that reductions in payments until reaching full retirement age are significant. Therefore, delaying this decision is generally advisable, as long as health permits.
What is the full retirement age in the United States in 2025?
The Social Security Administration explains on its official website how early retirement impacts the benefits of retirees and how this changes as the person approaches full retirement age. Currently, full retirement age is 66 years and 10 months for those born in 1959, and it rises to 67 years for those born in 1960.
In either case, individuals haven’t reached full retirement age yet but can begin receiving Social Security benefits if they choose. For this reason, the SSA has outlined these differences, which lead to reductions in payments, and explains them in a simple table:
Born between 1943 and 1954: 66 years is full retirement age, with a 25% reduction for early retirement.
Born in 1955: 66 years and 2 months is full retirement age, with a 25.83% reduction for early retirement.
Born in 1956: 66 years and 4 months is full retirement age, with a 26.67% reduction for early retirement.
Born in 1957: 66 years and 6 months is full retirement age, with a 27.5% reduction for early retirement.
Born in 1958: 66 years and 8 months is full retirement age, with a 28.33% reduction for early retirement.
Born in 1959: 66 years and 10 months is full retirement age, with a 29.17% reduction for early retirement.
Born in 1960: 67 years is full retirement age, with a 30% reduction for early retirement.
Lee también
Daniela Machorro
What is the best age to retire in the United States? SSA tips to optimize your benefits
The SSA makes it clear that the ideal approach is to delay retirement as long as possible before transitioning out of the workforce and relying on monthly state payments. In fact, postponing retirement until age 70—three years after the full retirement age—can increase monthly benefits.
For this reason, and with the goal of sustaining a pension system that moves billions of dollars every month, the SSA encourages delaying retirement and even rewards individuals who do so. For example, there are credits for delayed retirement designed to increase monthly benefits for retirees.
“There are both advantages and disadvantages to receiving benefits before reaching your full retirement age. The advantage is that you receive benefits for a longer period of time. The disadvantage is that your benefit amount will be reduced. Each person’s situation is different,” summarizes the SSA on its official website.