Everything You Need to Know About Social Security Filing Ages

Know when your full monthly benefit is yours to claim

While you can absolutely claim Social Security starting at age 62, you won't get your full monthly benefit based on your personal earnings history until full retirement age (FRA) arrives.

For each month you claim Social Security prior to FRA, your monthly benefit is reduced. Now if you have an FRA of 67 and you sign up for Social Security at 66, you won't face nearly the same hit to your monthly benefit as you would with a filing at age 62. But either way, it's important to know when your FRA is, as that information, coupled with your financial situation, should guide your filing decision.

Will lawmakers make changes to FRA?

The table above is correct as of this writing, and will likely remain correct for the foreseeable future. However, lawmakers may, at some point, consider a change to FRA for workers born in 1960 or later to address Social Security's pending financial shortfall. At this point, Social Security is at risk of having to cut benefits as early as 2034 if lawmakers don't find a way to address its fiscal woes.

Still, it pays to keep tabs on Social Security in case FRA shifts in the future. For now, though, keep the above numbers in mind when narrowing down your filing decision.