Guide on SSA Full Retirement Age & Amount of Benefit
SSA FULL RETIREMENT – Here’s a guide on the full retirement age and the amount that a retiree may receive from Social Security Administration.
Almost each country got a government-run social insurance institution that manages the insurance of the people who are working. In the United States, it is the Social Security Administration or more commonly called as SSA that do it. A huge part of the populace is under the SSA.
If you are currently and you want to do two (2) things, to cope with the needs in your household and to prepare for the future, it is best to consider about starting for your retirement benefit. It may take years as you need to reach a minimum in the SSA credits to obtain the benefit.
Do you want to check on the minimum credits set by Social Security Administration? Feel free to visit – Social Security Retirement Benefit – Number of Credits Required by SSA.
If you are a member of the Social Security Administration who is qualified for a retirement benefit, there are three (3) retirement choices for you – the Full Retirement, the Early Retirement, and the Delayed Retirement.
Under the SSA Full Retirement, the retirement age is 66 years old for those who were born between 1943 and 1954. The retirement age gradually increases for those who were born after 1954 until the person reaches 67 years old. The full retirement age for those who were born in 1960 and up is 67.
With regards to the amount under SSA Full Retirement, it is usually up to 40% of the income of the retiree during his or her pre-retirement years. For example, you earned a total of $828,000.00 with a monthly salary of $2,300.00 for 30 years, your full retirement may be up to $331,200.00.
In case something happens and you cannot wait until you turn 66 or 67 but you are already eligible for the retirement benefit, you may choose to apply for an early retirement. You may visit – SSA Early Retirement: The Age for Early Retirement & How It Can Affect the Benefit.