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Use the online calculator to find out when you'll reach State Pension age, your Pension Credit qualifying age and when you'll be eligible for free bus travel. Show
State Pension ageYour State Pension age is the earliest age you can start receiving your State Pension. It may be different to the age you can get a workplace or personal pension. Find out more about early retirement and its effect on your pension. Your State Pension age is worked out based on your gender and date of birth. To find out more, go to the link below:
Online calculatorThe online calculator to check your State Pension age is available on the GOV.UK website:
Review of State Pension ageThe State Pension age is under review and may change in the future. Find out more about the proposed new timetable for State Pension age increases on the GOV.UK website. Working after State Pension ageYou can keep working past the State Pension age. 'Default retirement age' (a forced retirement age of 65) no longer exists. Find out how much State Pension you could getYou can Check your State Pension Forecast to calculate how much you could get. Get proof of receipt of State PensionIf you need proof that you are getting Pension Credit you can request a proof of benefit letter by using the online service. When you use the online service the proof of benefit letter will be posted to you directly within 5 working days. If you cannot use the online service you can contact the Northern Ireland Pension Centre Help improve this page - send your feedbackTell us more about the problem you're having with the nidirect website. What to do nextWaiting until your full retirement age to collect Social Security can have a big financial payoff. If you wait until your full retirement age, you are eligible to collect 100% of your Social Security retirement benefit. Initially, when the Social Security Act was signed into law in 1935, that age was 65. However, a law passed in 1983 gradually increased the retirement age to 67. You do have the option to take your benefits early, which will reduce your checks, or delay until past your full retirement age, netting you a bigger benefit. Find Your Own Full Retirement Age with Our Easy Calculator Subscribe to Kiplinger’s Personal FinanceBe a smarter, better informed investor. Save up to 74% Sign up for Kiplinger’s Free E-NewslettersProfit and prosper with the best of Kiplinger’s expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail. Profit and prosper with the best of Kiplinger’s expert advice - straight to your e-mail. You can claim your Social Security retirement benefits as early as 62 but you will receive a smaller amount if you do that. How much your benefits will be reduced depends on your age when you claim Social Security. For example, let’s say you are eligible for 100% of your benefits at age 67, which is the full retirement age for anyone born in or after 1960:
Under this example, if you were eligible for $1,000 a month at your full retirement age of 67 then the benefit would be reduced to $700 a month if you claimed at 62; $750 if you claimed at 63; and so on, according to the Social Security Administration. The reduction is calculated each month, not on a yearly basis, so every month you wait after age 62 will mean a slightly bigger Social Security check. You can also wait as late as age 70 to start collecting Social Security benefits. Doing so boosts your retirement benefits. There’s no incentive to wait after age 70 to claim Social Security. Here’s how your benefit will increase if you wait to claim Social Security:
Using this example, if you were eligible for a Social Security retirement benefit of $1,000 per month at your full retirement age of 67, the benefit would increase to $1,080 if you delay claiming until age 68; $1,160 if you delay to age 69; and $1,240 if you delay to age 70. Once again, the delayed retirement credits accrue monthly, not annually, so every month you wait beyond age 67 will net you a slightly bigger monthly check from Social Security. What is the full retirement age in 2022?Let's say you turn 62 in 2022, your full retirement age is 67, and your monthly benefit starting at full retirement age is $1,000. If you start getting benefits at age 62, we'll reduce your monthly benefit 30% to $700 to account for the longer time you receive benefits.
What month is my full retirement age?In this case, Social Security considers you to have attained full retirement age on the last day of the month preceding the milestone date. For example, if you were born July 1, 1956, you attain full retirement age on June 30, 2022, and you would receive your first payment in July 2022.
Is it better to take Social Security at 62 or 67?You can start receiving your Social Security retirement benefits as early as age 62. However, you are entitled to full benefits when you reach your full retirement age. If you delay taking your benefits from your full retirement age up to age 70, your benefit amount will increase.
What is the maximum Social Security benefit at age 72?The maximum benefit depends on the age you retire. For example, if you retire at full retirement age in 2022, your maximum benefit would be $3,345. However, if you retire at age 62 in 2022, your maximum benefit would be $2,364. If you retire at age 70 in 2022, your maximum benefit would be $4,194.
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What is full retirement age for someone born in 1973
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