Claiming Rules
Understanding the Tradeoffs of Claiming Social Security at Age 62
Verified against SSA POMS as of September 21, 2026
The short answer
Social Security benefits claimed at age 62 are reduced from the Full Retirement Age (FRA) amount. The reduction depends on the beneficiary's birth year. For those born before 1/2/1955, benefits can be as low as 75% of the Primary Insurance Amount (PIA), and for those born after 1/1/1955, benefits can be reduced further, to 70% of PIA, depending on the exact DOB range.
Full Retirement Age and Benefit Reductions
The 1983 Amendments altered the age at which individuals receive unreduced Social Security benefits. The full retirement age varies according to birthdate, impacting the percentage of the Primary Insurance Amount (PIA) received when opting for earlier benefits. For those born 1/2/1943 through 1/1/1955, benefits at age 62 are 75% of the PIA, as shown in RS 00615.105, section B.1.
RS 00615.105 View source ›Benefits for Birth Dates After January 1, 1955
For individuals born after 1/1/1955, the full retirement age increases, and consequently, the percentage of PIA receivable at age 62 decreases. Those with birth dates from 1/2/1955 or later will receive between 70% and 74.2% of the PIA. These reductions are designed to reflect the earlier claiming of benefits relative to the Full Retirement Age specified after the 1983 amendments.
RS 00615.105 View source ›Effect of Benefit Reductions on Lifetime Payments
Starting benefits at age 62 rather than at the Full Retirement Age means a permanently reduced benefit amount. The reduction is based on the number of months between the start of retirement benefits and reaching the Full Retirement Age. For instance, a person with a full retirement age of 66 and born between 1/2/1943 and 1/1/1955 would face a deduction of 48 months. In contrast, a person born on 1/2/1960 would face a deduction of 60 months due to the increase in the Full Retirement Age to 67.
RS 00615.105 View source ›Frequently asked
What happens if I claim Social Security at age 62?
Claiming benefits at age 62 means you will receive a reduced monthly payment compared to your benefits at Full Retirement Age. For individuals born between January 2, 1943, and January 1, 1955, benefits at age 62 equate to 75% of the Primary Insurance Amount (PIA). For those born after January 1, 1955, the reduction becomes more significant, with benefits potentially as low as 70% of the PIA for anyone born on or after January 2, 1960.
How much less will I get if I start benefits at 62?
For individuals born between January 2, 1943, and January 1, 1955, starting benefits at age 62 results in receiving 75% of the Primary Insurance Amount (PIA). For those born after January 1, 1955, the reduction increases, with benefits potentially being as low as 70% of the PIA for individuals born on or after January 2, 1960.
Is it better to wait until Full Retirement Age to claim benefits?
Waiting until Full Retirement Age means you receive the full benefit amount without reduction for early retirement, which could be financially advantageous over a longer lifespan.