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Age 70 is the last age at which you can file for increased Social Security benefits. At 8% per year, your benefit jumps by 24% over your full retirement age, to $1,240.
Full retirement age for Social Security benefits has been inching up to 67 from 65. ... your benefit will increase 8% until age 70. ... Although Social Security benefits rise with age up until 70, ...
Yet, you can file for your Social Security retirement benefits as early as age 62 or as late as age 70. Read Next: ... Working After Full Retirement Age Might Increase Benefits.
The retirement age will gradually increase to 62 for males by 2028 and 60 for females by 2035. In 2021, the retirement age is 60.25 (age 60 and 3 months) for men and 50.33 (age 50 and 4 months) for women, the age will be increased by 3 months each year following for men and 4 months for women. [96]
Recipients born May 2, 1958 through Feb. 28, 1959 will all reach full retirement age in 2025, AARP points out. For those born in 1960 and later, the retirement age will jump to 67 . Birth Year
A new year, a new number for Social Security and the benefit program's full retirement age.. Most people associate the age of 65 with retirement – although there's data suggesting the average ...