Full Retirement Age
Also called: normal retirement age, state pension age
Full retirement age is when you can claim your unreduced Social Security benefit — 67 for those born in 1960 or later. Claiming at 62 cuts the benefit permanently by around 30%, while delaying to 70 raises it by roughly 8% a year. Since the increase is guaranteed and inflation-linked, delaying is the highest-return, lowest-risk use of capital available to most retirees who can bridge the gap.