Collecting Social Security at 62 vs 67 vs 70 - AARP What is full retirement age? Full retirement age, or FRA, is when you become entitled to claim 100 percent of the Social Security benefit calculated from your lifetime earnings
7 Things to Know About Work and Getting Social Security In 2026, the earnings limit for most Social Security recipients under full retirement age is $24,480 (up from $23,400 in 2025) Work income up to that level is exempt, but you lose $1 in benefits for every $2 in earnings over the cap Suppose you have a part-time job that pays $40,000 a year Your benefits for 2026 would be reduced by $7,760 — half the difference between $24,480 and $40,000
Do Social Security Benefits Increase If You Continue To Work? - AARP Continuing to work may have a benefit downside if you claimed Social Security early In the years before you reach full retirement age, you are subject to Social Security’s earnings test, which reduces your benefits if your income from work exceeds a set limit ($24,480 in 2026)
Is The Full Retirement Age Being Raised? - AARP The changes to the full retirement age from age 66 to 67 were mandated by Congress in 1983 Raising the age further is a possible change for Social Security
If I Start Social Security Early, Will It Increase Later? - AARP The same is true of spousal and survivor benefits: If you claim them early, they are reduced, and they stay reduced even when you pass full retirement age If you develop filer’s remorse, Social Security gives you 12 months from the date you applied for retirement benefits to change your mind and cancel that initial claim
When Can You Start Collecting Social Security? - AARP The earliest you can start receiving retirement benefits is when you reach age 62 Your payments would begin in your first full month as a 62-year-old — that is, the calendar month after your birthday You can apply for benefits up to four months before you want them to start, so to begin when you turn 62, you can apply at age 61 and 9 months
How Retirement Benefits Are Calculated By Social Security Finally, Social Security plugs in the age at which you claim benefits They take a bite from the full benefit if you are younger than full retirement age — you can lose up to 30 percent of your benefit by at 62, the earliest possible age