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When should you start collecting Social Security benefits? Year of birthFull retirement age1937 and before651943-1954661955-195966 + 2 months for each year past 19541960 and later671 more row Aug 31, 2023
The earliest possible age for retirement is 62, but the full retirement age is 67. If you choose to retire early at 62, your monthly payments will be lower. The Social Security Agency (SSA) determines if youre qualified for these benefits based on credits you earn through working.
Some of the retirement tax benefits of Pennsylvania include: Retirement income is not taxable: Payments from retirement accounts like 401(k)s and IRAs are tax exempt. PA also does not tax income from pensions for residents aged 60 and over.
If you retire at age 50, you may have a stretch before you start receiving Social Security benefits. Youll also want to check your work record, as your employment history and wages earned are used when calculating the benefit youll receive.
Full Retirement and Age 62 Benefit By Year Of Birth Year of Birth 1.Full (normal) Retirement AgeMonths between age 62 and full retirement age 2.195866 and 8 months56195966 and 10 months581960 and later67606 more rows
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