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Is the Early Retirement Age Increasing From 62?
QUESTION: In a few years, I will turn 62 and would like to retire. I know that legislation is gradually raising Social Security's full retirement age from 65 to 67. But does this mean the "early" retirement age will also be going up by two years, from age 62 to 64?
ANSWER: While it is true that Social Security is gradually raising the full retirement age from 65 to 67, the "early" retirement will remain at 62.
So you can go ahead with your plans to retire early. Keep in mind, however, that by taking early retirement, your benefits will be reduced permanently. For more information about Social Security benefits, visit the Web site at www.socialsecurity.gov or call (800) 772-1213 (TTY 1-800-325-0778) and ask for the publication "Retirement Benefits."
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