How do you determine your Full Retirement Age (FRA)?

Your Full Retirement Age (FRA) is crucial in determining when you can receive your full Social Security retirement benefits without any reduction. This age is not fixed for everyone but varies depending on the year you were born.

For individuals born before 1937, the FRA is indeed 65, but as the system has evolved to account for increases in life expectancy, the FRA has gradually risen for those born in later years. For example, if you were born in 1960 or later, your FRA is 67. This means that understanding your specific birth year is essential to determining your FRA accurately.

This flexibility reflects changes in demographic trends and aims to ensure the long-term sustainability of the Social Security program. Therefore, knowing your birth year allows you to calculate the precise age at which you are eligible to claim full benefits, making it vital information for any planning related to retirement benefits.