Thought You’d Receive Social Security Benefits at 65? Were You Born After 1938?

We realized that, with a number of political ads appearing during the Mid Term Election period about tampering with Social Security, some older workers might not realize that full Social Security benefit eligibility ages have changed for those born in 1938 or later:

Full retirement age (also called “normal retirement age”) had been 65 for many years. However, beginning with people born in 1938 or later, that age gradually increases until it reaches 67 for people born after 1959.

The 1983 Social Security Amendments included a provision for raising the full retirement age beginning with people born in 1938 or later. The Congress cited improvements in the health of older people and increases in average life expectancy as primary reasons for increasing the normal retirement age.

The earliest a person can start receiving Social Security retirement benefits will remain age 62. If you delay your retirement after you reach full retirement age, your benefit will increase but you will not receive as many payments. If you decide to delay your retirement, be sure to sign up for Medicare at age 65. In some circumstances, medical insurance costs more if you delay applying for it.

Note: Persons born on January 1 of any year should refer to the full retirement age for the previous year. Here’s what that calendar looks like at the Social Security site: