The top 10+ how much is social security reduced at age 62

Here are the top best How much is social security reduced at age 62 voted by readers and compiled and edited by our team, let’s find out

Table of Contents

1 What Is the Average Social Security Benefit at Age 62? | GOBankingRates

Author: gobankingrates.com
Published: 11/07/2021
Review: 5 (705 vote)
Summary: · According to the Social Security Administration (SSA), if you were born between 1943 and 1954, your full retirement age is 66. By claiming at
Detail: https://www.gobankingrates.com/retirement/social-security/what-is-the-average-social-security-benefit-at-age-62/

Author: ssa.gov
Published: 04/21/2022
Review: 4.77 (205 vote)
Summary: Social Security benefits will be reduced by 25% for a person who retires at 62 whose full retirement age is 66 (born 1943-1954). Social Security benefits will be reduced by 30% for a person who retires at 62 whose full retirement age is 67 (born in 1960 or later)
Detail: https://www.ssa.gov/pressoffice/IncRetAge.html

Author: myucretirement.com
Published: 07/22/2022
Review: 4.59 (374 vote)
Summary: If you start taking Social Security at age 62, rather than waiting until your full retirement age, you can expect up to a 30% reduction in monthly benefits
Source: You can claim Social Security benefits based on your spouse’s work record. If claiming spousal benefits provides more, claiming before your full retirement age on a spouse’s record means you’ll lose even more than claiming on your own record—the …
Detail: https://myucretirement.com/Resource/190

Author: kiplinger.com
Published: 10/24/2022
Review: 4.23 (437 vote)
Summary: Taking the spousal benefit early at, say, age 62, reduces the amount to as little as 32.5% of the higher earner’s benefit. If you take your own benefit early
Source: You can claim Social Security benefits based on your spouse’s work record. If claiming spousal benefits provides more, claiming before your full retirement age on a spouse’s record means you’ll lose even more than claiming on your own record—the …
Detail: https://www.kiplinger.com/retirement/social-security

Author: smartasset.com
Published: 07/20/2022
Review: 4.12 (378 vote)
Summary: · If you retire more than 36 months early (up to a maximum of 60), your Social Security benefit will be reduced by an additional 5/12 of 1% per
Source: You can claim Social Security benefits based on your spouse’s work record. If claiming spousal benefits provides more, claiming before your full retirement age on a spouse’s record means you’ll lose even more than claiming on your own record—the …
Detail: https://smartasset.com/retirement/does-early-retirement-affect-social-security

Author: nasi.org
Published: 07/27/2022
Review: 3.93 (387 vote)
Summary: Early retirement benefits will continue to be available at age 62, but they will be reduced more. When the full-benefit age reaches 67, benefits taken at
Source: You can claim Social Security benefits based on your spouse’s work record. If claiming spousal benefits provides more, claiming before your full retirement age on a spouse’s record means you’ll lose even more than claiming on your own record—the …
Detail: https://www.nasi.org/learn/social-security/retirement-age/

Author: schwab.com
Published: 02/05/2022
Review: 3.65 (380 vote)
Summary: If your full retirement age is 67 and you elect to start benefits at age 62, the reduced benefit calculation is based on 60 months. So, the reduction for the
Source: You can claim Social Security benefits based on your spouse’s work record. If claiming spousal benefits provides more, claiming before your full retirement age on a spouse’s record means you’ll lose even more than claiming on your own record—the …
Detail: https://www.schwab.com/learn/story/guide-on-taking-social-security

Author: nolo.com
Published: 10/18/2022
Review: 3.49 (496 vote)
Summary: If you claim Social Security retirement benefits before your full retirement age, which is 67 for those born in 1960 or later, the SSA will permanently lower
Source: The SSA will reduce your benefits by 5/9 of one percent per month for each month you receive benefits before your normal retirement age. This reduction is roughly equal to roughly .556% per month. For example, if you start claiming benefits 27 …
Detail: https://www.nolo.com/legal-encyclopedia/will-i-get-penalized-working-while-collecting-social-security-retirement.html

Author: yahoo.com
Published: 04/04/2022
Review: 3.3 (548 vote)
Summary: · The greater the gap between age 62 and FRA, the higher the percentage of reduction in retirement benefits. For those born in 1960 or later,
Source: The SSA will reduce your benefits by 5/9 of one percent per month for each month you receive benefits before your normal retirement age. This reduction is roughly equal to roughly .556% per month. For example, if you start claiming benefits 27 …
Detail: https://www.yahoo.com/now/average-social-security-benefit-age-113021939.html

Author: actec.org
Published: 02/09/2022
Review: 3.1 (470 vote)
Summary: Depending on what someone’s retirement age is, the decision to collect Social Security early could result in a monthly reduction of about 20 to 30 percent of
Source: The greatest advantage of delaying collecting Social Security is let’s say, for example, if I have someone who is age 67, that’s their full retirement age – 67, and they delay collection of Social Security until age 70. That could result in a 7 to 8 …
Detail: https://www.actec.org/estate-planning/social-security-retirement-age-benefits/

Author: brookings.edu
Published: 12/14/2021
Review: 2.88 (138 vote)
Summary: Nonetheless, any increase in the early eligibility age or deep reduction in benefits available to 62-year-old workers should make special provision for workers
Source: The dramatic improvement in life spans past age 65 means that retired workers can expect to collect far more monthly pensions than was the case in the past. Monthly pension payments have not been reduced to accommodate this increase (monthly …
Detail: https://www.brookings.edu/testimonies/increasing-the-eligibility-age-for-social-security-pensions/