Retirement before "Normal Retirement Age" (NRA) reduces benefits, and retirement after NRA increases benefits.
NRA, also referred to as "Full Retirement Age," varies from age 65 to age 67 by year of birth.
The normal retirement age (NRA) is the age at which retirement benefits (before rounding) are equal to the "primary insurance amount." The table below shows how NRA varies by year of birth for retirees.
Normal Retirement Age Year of birth Age 1937 and prior 65 1938 65 and 2 months 1939 65 and 4 months 1940 65 and 6 months 1941 65 and 8 months 1942 65 and 10 months 1943-54 66 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 and later 67 Notes:
1. Persons born on January 1 of any year should refer to the normal retirement age for the previous year.
2. For the purpose of determining benefit reductions for early retirement, widows and widowers whose entitlement is based on having attained age 60 should add 2 years to the year of birth shown in the table.
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We have a calculator that computes the percentage reduction or percentage increase in benefits for retirees when selecting early or delayed retirement. We have a similar calculator for reduced spousal benefits. Please note that neither of these calculators should be used for survivor benefits.
