age qualification for social security
Social Security's full-benefit retirement age is increasing gradually because of legislation passed by Congress in 1983. Traditionally, the full benefit age was 65, and early retirement benefits were first available at age 62, with a permanent reduction to 80 percent of the full benefit amount. Pension age for women born before 1 July 1952. Before 1 July 2013, men qualified for Age at 65 years and women qualified for Age at different ages to men, depending on their date of birth. From 1 July 1995, the minimum age for women to qualify for Age began to increase by 6 months every 2 years. The qualifying age for women is set out in section 23(5B) (for women born before 1 July 1935) and the table in section 23(5C) (for women born from 1 July 1935 to 31 December 1948). The table below shows pension age by date of birth and the effective date of the change. If you have not worked or do not have enough Social Security credits to qualify for your own Social Security benefits, you may be able to receive spouse’s benefits. To qualify for spouse’s benefits, you must be: 1  At least 62 years of age; or. Qualifying for Social Security Disability. In order to be eligible for Social Security Disability, individuals must fit several qualification criteria put forth by the Social Security Administration (SSA). In order to qualify for SSI, individuals must be over 65 years old, by legally blind, or be disabled, and have total family assets amounting to less than $3000. Currently, the full benefit age is 66 for people born in 1943-1954, and it will gradually rise to 67 for those born in 1960 or later. 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 age 62 will be reduced to 70 percent of the full benefit and benefits first taken at age 65 will be reduced to 86.7 percent of the full benefit. Here is an example: Mary Ann qualifies for a retirement benefit of $250 and a spouse’s benefit of $400. At her full retirement age, she will receive her own $250 retirement benefit, and we will add $150 from her spouse’s benefit, for a total of $400. If she takes her retirement benefit before her full retirement age, both amounts will be reduced. Men born before 1 July 1952 qualify for Age at 65. From 1 July 2017, the minimum age for both men and women to qualify for Age will begin to further increase. For men and women born on or after 1 July 1952 the pension age will progressively increase by 6 months every 2 years until it reaches 67 on 1 July 2023. The table below shows pension age by date of birth and the effective date of the change. The maximum retirement benefit for someone who waits until age 70 to collect benefits is $3,350 a month in 2013. Most people claim Social Security before they reach the age for full benefits. Of people who started getting retired worker benefits in 2011, three out of four (74 percent) received benefits that are reduced for early retirement. More SSI Qualification Criteria... Due mostly to the ever increasing volume of Social Security disability claims, denial rates for applications at the initial stage are currently upwards of 60%.
62 years