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.
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. |
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.