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Say you were on track for the average Social Security benefit of $1,976 monthly in 2025. A 30% cut to benefits would bring that down to $1,383.20 if you got your first payment at 62 when your FRA ...
Claiming Social Security early, for example, can result in a significant reduction of benefits. Retiring before your full retirement age (FRA) reduces your benefit by 25% to 30%, depending on your ...
A worker’s PIA reflects the benefit received at full retirement age, however, you can actually start claiming Social Security once you turn 62 years old. But doing so will reduce your benefit .
The average monthly Social Security benefit for a retired worker is $1,909 (as of January 2024). But that number could be much less if you don’t work and contribute to the plan for a full 35 years.
How early retirement reduces Social Security benefits. Even though you can start getting Social Security benefits as early as 62, that doesn’t always mean you should. Claiming benefits at 62 ...
What Is the Early Retirement Age for Social Security? You can choose to claim retirement benefits as early as age 62.However, SSA will reduce your benefit by about 0.5% for every month you receive ...