The Social Security full retirement age (FRA) is currently 67 for anyone born in or after 1960. That’s when you can receive 100 percent of your earned Social Security benefits. But almost half of working Americans say they plan to file sooner.
According to an article by CNBC, the median age to start claiming Social Security is between 64 and 65 for both men and women. However, the most common age is 66; that’s when about one-third of beneficiaries begin receiving retirement benefits.
The article also points out that 22 percent of retirees file their first claim at 62; that’s the earliest you can receive benefits. Only about 8.5 percent of seniors wait until age 70 to start claiming. That’s the maximum age; if you wait that long, you’ll receive about 124 percent of full benefits.
Council of Seniors Is Here To Help Older Americans
All of us here at the Council of Seniors want to improve retirees’ financial futures and ensure they receive their full Social Security benefits. We are working with members of Congress to introduce the “Social Security Restitution Act.” It would provide an estimated $970 one-time payment to every retired worker receiving Social Security benefits, to help offset years of inadequate cost-of-living adjustments.
Please take a moment and sign our petition today to show your support.