what is the mandatory age for social security?
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Your full retirement age depends on your birth year: Under current law, if you were born in 1951 or later, your full retirement age is now some point after age 65—all the way up to age 67 for those born after 1959. If you were born before 1951, you've already reached age 66 and full retirement age. Source: ssa.gov.
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Maximizing Social Security Benefits You reach age 62, and you can start collecting benefits. Or you wait until normal retirement age (66 for most) to collect a larger benefit. 2﻿ For an even bigger monthly check, wait until age 70.
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If you were born in 1956 your full retirement age is 66 and 4 months. You can start your Social Security retirement benefits as early as age 62, but the benefit amount you receive will be less than your full retirement benefit amount.
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Social Security retirement benefits start as early as age 62, but the benefits are permanently reduced unless you wait until the full retirement age of 66 or 67.
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The child must be under age 18, or up to age 19 and still attending high school. Benefits end once the child reaches the maximum age unless she is disabled. In these cases, benefits continue for the duration of the child's life, or until the SSA determines the child is no longer disabled.
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You Can Receive Benefits Before Your Full Retirement Age. You can start receiving your Social Security retirement benefits as early as age 62, but the benefit amount will be lower than your full retirement benefit amount.
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Generally, the minimum pension age is 55. Scheme rules vary though, so some members could take benefits at different ages.
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Unfortunately, social security benefits may only cover 20-40% of your income in retirement. And many smart retirees delay taking social security until age seventy to maximize benefits. As a result, annual income need from your $2 million portfolio can be much higher from age 60 to 70.
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Apply four months before you want your Social Security retirement benefits to start. If you want your benefits to start at age 62, you can apply at age 61 and eight months.
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Key Takeaway. For social security income, the youngest age you can apply is 61 years and nine months old. You'd then receive your first SS check four months later—the month after your 62nd birthday. It is recommended you apply three months in advance of when you would like to start receiving the checks.
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En español | The earliest you can start collecting retirement benefits is age 62. You can apply once you reach 61 years and 9 months of age. However, Social Security reduces your payment if you start collecting before your full retirement age, or FRA.
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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.
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When it comes to Social Security for the year 2020, the full retirement age is 66 and 2 months. For most people reading this, your full retirement age will likely be closer to 67.
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En español | Yes. If you are receiving Social Security, the Social Security Administration will automatically sign you up at age 65 for parts A and B of Medicare. ... Social Security will send you sign-up instructions at the beginning of your initial enrollment period, three months before the month of your 65th birthday.
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You can start receiving your Social Security retirement benefits as early as age 62, but the benefit amount will be lower than your full retirement benefit amount.
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The earliest you can start receiving Social Security benefits is age 62. But the earlier you elect to receive your benefits, the smaller your monthly checks will be. To receive full benefits, you will have to avoid collecting Social Security until you reach your full (or normal) retirement age.
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You can get Social Security retirement benefits as early as age 62. However, we'll reduce your benefit if you retire before your full retirement age. For example, if you turn age 62 in 2020, your benefit would be about 28.3 percent lower than it would be at your full retirement age of 66 and 8 months.