A lot of people don’t really know when they reach full retirement for Social Security. Here is an easy reference table to keep:
The chart below shows your FRA based on the year you were born.
Year of Birth/ Full Retirement Age:
1955 66 and 2 months
1956 66 and 4 months
1957 66 and 6 months
1958 66 and 8 months
1959 66 and 10 months
1960 or later 67
It can actually pay to wait until after full retirement age to claim your benefits, because once you reach FRA, you start earning delayed retirement credits. The small monthly increases these credits provide can add up to an 8% bump up in the size of your checks for each year you wait, up until 70.
Make sure you don’t claim Social Security without the knowledge you need. This is a lifelong decision that can impact your family’s retirement.