If a person born in 1960 or later wants full Social Security benefits, at what age can they retire?

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Study for the State Finance Challenge Test. Prepare with quizzes and multiple choice questions, each offering hints and explanations. Enhance your understanding and get ready for success!

Multiple Choice

If a person born in 1960 or later wants full Social Security benefits, at what age can they retire?

Explanation:
Full retirement age is the age at which you receive unreduced Social Security benefits. For someone born in 1960 or later, that age is 67. You can start benefits earlier (as early as 62) but the monthly amount is permanently reduced, while delaying beyond 67 increases the benefit but only up to age 70. So to receive full, unreduced benefits for a birth year 1960 or later, plan to claim at 67.

Full retirement age is the age at which you receive unreduced Social Security benefits. For someone born in 1960 or later, that age is 67. You can start benefits earlier (as early as 62) but the monthly amount is permanently reduced, while delaying beyond 67 increases the benefit but only up to age 70. So to receive full, unreduced benefits for a birth year 1960 or later, plan to claim at 67.

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