If you were born in 1963, you might be wondering, “What is full retirement age? ” The answer depends on your birth year, as the Social Security Administration (SSA) has set different retirement ages for different generations. Understanding your complete retirement age (FRA) is vital for maximizing your Social Security benefits.
We’ll cover:
- What is the full retirement age for someone born in 1963?
- How it compares to those born in 1959, 1958, 1960, and 1955
Main Key considerations for claiming benefits in 2025
Full Retirement Age for Someone Born in 1963
If you were born in 1963, your full retirement age is 67. This means you become eligible for 100% of your Social Security benefits once you reach age 67. However, you can start claiming benefits as early as age 62, but your monthly payments will be reduced permanently.
On the other hand, if you delay benefits beyond age 67, your payments increase by 8% per year until you reach age 70, when they max out.
How Does Full Retirement Age Vary by Birth Year?
The SSA adjusts full retirement age based on birth year. Here’s how it breaks down:
- Born in 1958? What is full retirement age? → 66 and 8 months
- Born in 1959? What is full retirement age? → 66 and 10 months
- Born in 1960? What is full retirement age? → 67
- Born in 1955? What is full retirement age? → 66 and 2 months
As you can see, the FRA gradually increases for those born between 1955 and 1960, stabilizing at 67 for anyone born in 1960 or later.
Should You Claim Social Security in 2025?
If you were born in 1963, you’ll turn 62 in 2025, making you eligible for early retirement benefits. However, claiming before your FRA (67) means-
- A 30% reduction in monthly benefits if claimed at 62
- A smaller reduction if claimed between 62 and 67
Factors to Consider in 2025:
- Life Expectancy – If you expect to live longer, delaying benefits may be more beneficial.
- Employment Status – If you’re still working, delaying Social Security could increase future payouts.
- Spousal Benefits – Your decision may affect your spouse’s benefits.
Knowing what the full retirement age for someone born in 1963 (which is 67) helps you make an informed decision about when to claim Social Security. If you were born in 1958, 1959, 1960, or 1955, your FRA differs slightly, so check the SSA’s guidelines before making a decision.
For 2025, evaluate your financial needs, health, and employment status to decide whether to claim early, at FRA, or delay until age 70 for maximum benefits. For the latest updates, visit the Social Security Administration’s official website.