Full Retirement Age

Retirement is a big step, and we want to make sure your transition is as smooth and stress-free as possible. Some may wonder what full retirement age is, as well as if you can retire early and still receive Medicare benefits. We’re here to answer all your retirement questions, including how to prepare for retirement.

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What is Full Retirement Age?

Full retirement age is the age at which a beneficiary is entitled to receive the total allowance of Social Security benefits provided each month. The birth year determines Social Security’s full retirement age because people are living longer and therefore collecting more during retirement.

Although the full retirement age used to be 65, it is set to increase incrementally over a twenty-two-year period. Thus, for those born after 1959, the age will be 67.

Full Retirement Age 1956

The full retirement age for beneficiaries born in 1956 will be 66 years and four months. Thus, waiting until this age will allow you to claim 100% of your SSI benefit. Claiming early retirement at 62 will entitle you to 73.3% of the monthly amount. Retiring at 65 gets you a 91.1% monthly benefit.

Full Retirement Age 1957

Beneficiaries born in 1957 reach full retirement age at 66 and a half years. Meaning, SSI pays 100% of the benefit amount if you retire at this age. Retiring at 62 will get 72.5% of the monthly benefit, and at age 65, you’re entitled to 90% of the monthly benefit amount.

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Full Retirement Age 1958

Claimants born in 1958 reach the average retirement age at 66 years and eight months and can expect to receive 100% of the monthly benefit. Early retirement at age 62 will get 71.7% of the monthly amount, and age 65 will get 88.9% of the monthly benefit amount.

Full Retirement Age 1959

Beneficiaries born in 1959 reach complete retirement at 66 years and ten months. It’s at this time you can retire and expect to receive 100% of your monthly benefit. Early retirement at age 62 will receive 70.8% of the monthly benefit, and age 65 will get 87.8%.

If You Retire Early, Can You Get Medicare?

The short answer is no. Medicare eligibility doesn’t correlate with your retirement age. Generally, Medicare eligibility starts three months before your 65th birthday and three months after you turn 65, which is known as your Initial Enrollment Period.


What is the Medicare requirement age?
Medicare eligibility becomes available for Americans once they turn 65.
What is my full retirement age?
The full retirement age is 66 for people born between 1943 to 1954 but gradually rises year by year. For individuals born from 1955 to 1960, the full retirement age stretches to 67.
What is the rising retirement age?
According to Social Security, the retirement age is steadily increasing from 65 to 67 over the next 22 years.
When can I retire with full Medicare benefits?
Medicare eligibility starts at the age of 65, however, you can start to receive Social Security benefits as early as 62.
What is the average retirement age?
According to a 2021 survey from Natixis Investment Managers, the average retirement age is 62, but that seems to be increasing every year.
If you retire at 62, can you get Medicare?
No, you will have to wait an additional three years. Once you turn 65, you will be eligible for Medicare.

How to Prepare for Retirement

Retirement is a huge milestone, and every decision you make matters. That’s why planning ahead and knowing when you’ll reach your your full retirement age is important . You may be wondering where to start, but don’t worry. We put together this checklist to help you get started:

  • Start saving money and set financial goals
  • Pay off as much debt as possible
  • Contribute to your employer’s retirement savings program
  • Understand your employer’s pension plan
  • Explore your Social Security benefits
  • Calculate your retirement expenses

Whether you’re retiring soon or in the next few years, it’s important to set realistic goals so your retirement can be as smooth as possible.

Jagger Esch

Jagger Esch is the Medicare expert for MedicareFAQ and the founder, president, and CEO of Elite Insurance Partners and MedicareFAQ.com. Since the inception of his first company in 2012, he has been dedicated to helping those eligible for Medicare by providing them with resources to educate themselves on all their Medicare options. He is featured in many publications as well as writes regularly for other expert columns regarding Medicare.

2 thoughts on “Full Retirement Age

  1. Once I reach full retirement age drawing 100% of my SS can I have unlimited income and not effect my SS? When I say unlimited I mean like $50,000 per year.


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