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Full retirement age is now 66 to 67 for Social Security. That’s when you can receive 100 percent of your benefit but you can receive more if you wait to draw until 70.
In 1983, Congress passed a law that gradually increases the age at which people may receive 100% of their Social Security benefits. The increase is aimed to match increasing life expectancy.
For example, if you were born in 1960 or later and file for Social Security as soon as you’re eligible at age 62, your monthly benefit would see a 30 percent haircut. That would lower a $1,000 ...
Among retired workers, the average Social Security benefit at age 67 is $1,883.50 per month, according to December 2023 data from the Social Security Administration. The average benefit among men ...
In October, the Social Security Administration announced a 2.5% cost-of-living adjustment (COLA) for retired workers and other beneficiaries in 2025. That change, coupled with annual modifications ...
Image source: Getty Images. 1. Social Security's full retirement age (FRA) is increasing in 2025. Social Security's full retirement age (FRA) is the claim age at which benefits awarded to a ...