Full retirement age.
In plain English
Full retirement age (often shortened to FRA) is the age at which Social Security pays you 100 percent of the benefit your earnings record has built. For people born in 1960 or later, that age is 67. For people born before 1960 it falls somewhere between 66 and 67, depending on the exact birth year. You can start as early as 62 for a permanently reduced check, or wait until as late as 70 for a larger one, but full retirement age is the dividing line the whole system is measured against.
01Why it matters
Your full retirement age is the anchor for every claiming decision, because starting before it shrinks your check for life and waiting past it grows it, so knowing your exact FRA tells you what you are giving up or gaining.
02The math, step by step
If you were born in 1965, your full retirement age is 67. Claim at 62 and your benefit is permanently reduced to a fraction of the full amount. Claim at 67 and you get 100 percent. Wait until 70 and you earn delayed retirement credits on top of the full amount.
03What this is NOT
It is not the first age you can claim and it is not tied to Medicare. 62 is the earliest claiming age and 65 is Medicare eligibility, but full retirement age is a separate marker, 67 for those born in 1960 or later.
04Receipts
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Plain-English answers from our glossary. Receipts included. Never advice.
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