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 Age At Which Social Security Benefits Are Eligible

Age At Which Social Security Benefits Are Eligible

Depending on the kind of benefit, there are different age requirements for receiving Social Security benefits. Retirement benefits, disability benefits, and survivor benefits are the three main categories of Social Security benefits.

Retirement Benefits from Social Security:

The year of birth determines the full retirement age (FRA) for Social Security retirement benefits. When a person reaches FRA, they are eligible to receive full, unreduced retirement benefits. For those born in later years, it gradually increases from 65 to 67 years old.

As early as age 62, people can opt to receive reduced retirement benefits; however, if this option is taken before the FRA, the benefit amount will be permanently reduced.

Up to age 70, delaying retirement benefits past the FRA may result in an increase in monthly benefits due to delayed retirement credits.

Benefits for Social Security Disability:

Benefits under the Social Security Disability Insurance (SSDI) are available to people who are incapable of working because they meet certain requirements. Benefits from SSDI are available to anyone at any age.

In order to be eligible, an individual must meet the Social Security Administration's definition of disability and have accrued sufficient work credits through their employment history.

Benefits for Social Security Survivors:

Benefits for survivors are granted to the surviving spouse, dependent parents, and children of a deceased person who worked and accrued sufficient credits.

Among other things, the age at which survivors are eligible for benefits is determined by their relationship to the deceased. Benefits for children can start as early as age 18 (or age 19 if still in high school), and surviving spouses can start receiving benefits as early as age 60 (or age 50 if disabled).

The guidelines and requirements for receiving Social Security benefits are subject to change, so it's best to check with the Social Security Administration (SSA) or go to their official website for the most recent details. In order to make an informed decision regarding when to start receiving Social Security benefits based on their unique circumstances, people who are getting close to retirement age may also want to speak with a financial advisor.

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