Retirement Planning

Why You Should Know Your Full Retirement Age

Retirement age is not what is used to be.  We find ourselves working longer, and deciding when to retire can sometimes be complicated.  Find out your Full Retirement Age and enjoy your retirement years.

How Full Retirement Age Affects Benefits

Figuring out when to retire used to be less complicated. In the good old days you worked until you were age 65, diligently saved, and retired with pension and Social Security benefits that would see you through your golden years.

Today, many Americans face financial challenges when deciding on whether or not to retire early or if they should wait until they reach full retirement age or FRA. Why? Your FRA is when the Social Security Administration (SSA) will permit you to receive your full benefits.

What determines your FRA?

The full retirement age or "normal retirement age" used to be set at age 65. Today, that age has increased to 67 for people born after 1959. Use the following SSA guide1 to determine your FRA.

Note: The SSA considers you to have attained an age the day before your birthday.


Age To Receive Full Social Security Benefits
(Called "full retirement age" or "normal retirement age.")
 Year of Birth * Full Retirement Age
1937 or earlier  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 - 1954  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

*If you were born on January 1st of any year you should refer to the previous year. (If you were born on the 1st of the month, The SSA figures your benefit (and your full retirement age) as if your birthday was in the previous month.)


Social Security Administration

In the event you decide to delay receiving your Social Security benefits until after you have reached full retirement age, you may be eligible for delayed retirement credits that could increase your monthly benefits.

For more information on retiring early and planning for a comfortable retirement, visit the Protective Learning Center.

1. https://www.socialsecurity.gov/planners/retire/agereduction.html

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All Learning Center articles are general summaries that can be used when considering your financial future at various life stages. The information presented is for educational purposes and is meant to supplement other information specific to your situation. It is not intended as investment advice and does not necessarily represent the opinion of Protective Life or its subsidiaries.

Learning Center articles may describe services and financial products not offered by Protective Life or its subsidiaries. Descriptions of financial products contained in Learning Center articles are not intended to represent those offered by Protective Life or its subsidiaries.

Neither Protective Life nor its representatives offer legal or tax advice. We encourage you to consult with your financial adviser and legal or tax adviser regarding your individual situations before making investment, social security, retirement planning, and tax‐related decisions. For information about Protective Life and its products and services, visit www.protective.com.

Companies and organizations linked from Learning Center articles have no affiliation with Protective Life or its subsidiaries.

Retire Early

Looking to retire early? If so, then it's important to understand what age would be considered early for you as this can affect your Social Security benefits. Protective life examines the importance of full retirement age and how to factor that into your retirement planner. This article also briefly explains how to retire early. There are many different factors when retiring and retirement age is one of the most important. Retiring early doesn't always mean losing out on money. For more information, visit the Protective Life Learning Center.

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