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The Social Security Administration (SSA) of the United States distinguishes three specific moments when a person can apply for their retirement benefits.
Although the amount to be received depends on the income each future beneficiary had during their working period, the age at which the application is filed determines whether the benefit must be reduced, paid in full as planned, or increased.
These three scenarios are governed by an essential number for the federal agency’s system: full retirement age.
What is full retirement age?
Although the United States allows retirement for those who have accumulated 40 credits in their work record and are already 62 years old or older, full retirement age is the moment when SSA considers a person eligible to receive the full benefit.
For those who turn 62 in 2026, this age is 67, but it varies according to year of birth. Those who wish to check theirs can do so by clicking here.
What are the 3 moments when a person can apply for SSA retirement and what changes in each one
Taking as a reference the moment when each person reaches their full retirement age, there is:
Early retirement
This is what all older adults who retire during the period from 62 years old to full retirement age receive.
Although this option allows the money to be received for a longer time, SSA specifies that benefits are reduced by 0.5% for each month the benefit was claimed before reaching full retirement age.
“For example, if your full retirement age is 67 and you claim Social Security benefits at age 62, you will receive only about 70% of the amount of your full benefits,” the federal agency says.
Retirement at full retirement age
Those who choose this option will see neither discounts nor increases, but will be entitled to access their full payments.
Delayed retirement
There is the possibility of postponing retirement even after reaching full retirement age. In these cases, a higher retirement benefit will be received, proportional to the time waited to file.
“We will automatically add the increase for each month from when you reach full retirement age until you start receiving benefits or until you turn 70, whichever comes first,” it explains.
The calculation according to each case can be done here.
Working and receiving SSA benefits: information everyone should know
SSA allows recipients of this benefit to remain active if they wish, even after having filed.
However, full retirement age again plays a key role in this point, because before reaching it there is a limit on earnings that can be had. Once it is exceeded, deductions will be made from the benefit.
At updated 2026 figures, those who are below their retirement age and exceed the annual limit of 24,480 dollars will lose 1 dollar for every 2 earned above the limit.
There is a different rule for the year in which full retirement age is reached, where the income limit is higher. In 2026, 1 dollar is deducted for every 3 earned above the limit for the months before the birthday, which is 65,160.
“Starting with the month in which you reach full retirement age, you can receive your benefits without any earnings limit,” SSA states.