Delayed gratification |
|||
| The Social Security Administration is raising the age at which Americans can receive their retirement benefits. Here’s a look at how the changes will affect recipients. | |||
| If you were born in... | ...You will turn age 62 in... | The percentage of benefits you receive, If you retire then is... | But to collect 100% of your benefits, you need to reture when you turn... |
| 1937 & before | 1999 & before | 80% | 65 yrs. |
| 1938 | 2000 | 79 1/6% | 65 yrs., 2 mo. |
| 1939 | 2001 | 78 1/3% | 65 yrs., 4 mo. |
| 1940 | 2002 | 77 1/2% | 65 yrs., 6 mo. |
| 1941 | 2003 | 76 2/3% | 65 yrs., 8 mo. |
| 1942 | 2004 | 75 5/8% | 65 yrs., 10 mo. |
| 1943-54 | 2005-16 | 75% | 66 yrs. |
| 1955 | 2017 | 74 1/6% | 66 yrs., 2mo. |
| 1956 | 2018 | 73 1/3% | 66 yrs., 4mo. |
| 1957 | 2019 | 72 1/2% | 66 yrs., 6mo. |
| 1958 | 2020 | 71 2/3% | 66 yrs., 8 mo. |
| 1959 | 2021 | 70 5/6% | 66 yrs., 10 mo. |
| 1960 & later | 2022 & later | 70% | 67 yrs. |
| Source: Social Security Administration |
AP |
||