Oct 10, 2018 · Full retirement age, or FRA, is the age when you are entitled to 100 percent of your Social Security benefits, which are determined by your lifetime earnings. For most of the program’s history it was 65, but since the early 2000s it has been gradually increasing to 67 under changes to Social Security’s financial structure enacted by Congress in 1983.

Oct 10, 2018 · If you set benefits to begin at full retirement age (FRA) — 66 and 8 months for people born in 1958, 66 and 10 months for those born in 1959 and 67 for people born in 1960 and later — your first payment generally will arrive in the month after you attain that age. That’s because Social Security pays benefits a month behind, so your benefit for, say, June 2025 will …

Sep 12, 2024 · Social Security can make up a big portion of your retirement income. Maximizing your benefits starts with making the best choices for you, based on your age, marital status, work plans and more.

Oct 25, 2023 · Social Security maintains a “retirement earnings test” for people who claim benefits before reaching full retirement age (FRA), currently between 66 and 67 depending on your year of birth. If your work income exceeds a certain threshold, the Social Security Administration (SSA) temporarily withholds a portion of your monthly payment.

Oct 10, 2018 · Continuing to work may have a benefit downside if you claimed Social Security early. In the years before you reach full retirement age, you are subject to Social Security’s earnings test, which reduces your benefits if your income from work exceeds a …

Oct 10, 2018 · The changes to the full retirement age from age 66 to 67 were mandated by Congress in 1983. Raising the age further is a possible change for Social Security.

Oct 10, 2018 · Social Security calculates SSDI as though you reached full retirement age when you became disabled. Read to learn more.

Sep 12, 2022 · If you are at full retirement age, which varies according to the year you were born, Social Security will pay benefits starting that month. If you apply one to five months after you reach FRA, you can get retroactive benefits in a lump sum for that number of months. If you file six months or more past full retirement age, you can get up to six months in back benefits.

Oct 10, 2018 · If you develop filer’s remorse, Social Security gives you 12 months from the date you applied for retirement benefits to change your mind and cancel that initial claim. You’ll have to repay what Social Security has already paid you, but this way you can refile at full retirement age (or later) and get your full benefit (or more).

Dec 23, 2024 · Congress voted in 1983 to gradually raise the Social Security full retirement age (FRA) — the age when you become eligible to claim 100 percent of the retirement benefit calculated from your lifetime earnings — from 65 to 67.