Impact of Claiming Age on Social Security Benefits

• Claiming benefits before FRA can reduce monthly benefits by up to 30%.
• FRA is currently 67 years for those born in 1960 or later.
• Waiting until FRA allows for 100% of benefits but requires delaying five years past the earliest eligibility age of 62.
• Delaying to FRA removes income limitations for those still working.
• The earliest eligibility age for benefits is 62 years old.