# Full Retirement Age

*Retirement & Benefits — Finicade finance glossary*

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.

**Also known as:** normal retirement age, state pension age

**Related terms:** [Social Security](https://finicade.com/glossary/social-security), [Longevity Risk](https://finicade.com/glossary/longevity-risk), [Cost-of-Living Adjustment (COLA)](https://finicade.com/glossary/cost-of-living-adjustment), [Replacement Rate](https://finicade.com/glossary/replacement-rate), [Medicare](https://finicade.com/glossary/medicare)

Source: https://finicade.com/glossary/full-retirement-age