No, generally, you do not get full Social Security benefits at age 65; your eligibility for full benefits depends on your specific birth year.
Understanding Your Full Retirement Age (FRA)
Full Retirement Age (FRA) is the age at which you are eligible to receive 100% of your Social Security benefits. This age is not the same for everyone; it varies based on your birth year. If you choose to claim benefits before reaching your FRA, your monthly benefit amount will be permanently reduced.
Here’s a breakdown of the Full Retirement Age based on birth year:
| Birth Year | Full Retirement Age (FRA) |
|---|---|
| 1943 – 1954 | 66 years |
| 1955 – 1960 | Gradually increases to 67 years |
| 1960 or later | 67 years |
For those born in 1955 through 1959, the Full Retirement Age increases by a few months each year until it reaches 67 for those born in 1960 or later.
Claiming Benefits Before Your Full Retirement Age
If your Full Retirement Age is 66 or 67, and you begin receiving Social Security benefits at 65, your monthly benefit amount will be less than your full benefit. This is because you are claiming benefits before your FRA.
For example:
- If you were born between 1943 and 1954, your FRA is 66. Claiming at 65 would result in a reduced benefit.
- If you were born in 1960 or later, your FRA is 67. Claiming at 65 would mean a significant reduction in your monthly benefit.
Conversely, if you delay claiming benefits beyond your FRA (up to age 70), you can earn delayed retirement credits, which will increase your monthly benefit amount.
