What is full retirement age and why it matters

Full retirement age refers to the age at which an individual can receive their full Social Security benefits. This age is determined by the year in which you were born. It is important to know your full retirement age as it can impact the amount of benefits you receive.

Key Points:

• Full retirement age is based on your year of birth.
• Receiving benefits before full retirement age can result in a reduced amount.
• Delaying benefits past full retirement age can result in increased benefits.

Knowing your full retirement age is crucial for planning your retirement and ensuring you receive the maximum benefits you are entitled to. Make sure to check with the Social Security Administration to determine your full retirement age and make informed decisions about your retirement planning.