Deciding what age to begin Social Security benefits involves many factors unique to your retirement planning situation. You can begin receiving benefits at any time between ages 62 and 70, or at the full retirement age, which depends on when you were born. Keep in mind that:

• If you start receiving Social Security payments early, your benefits are reduced a fraction of a percent for each month before your full retirement age.
• If you wait until age 70, your monthly benefit amount increases from the amount you would have received if you'd begun taking benfits earlier at your full retirement age.

This chart shows full retirement age according to birth year.

Find Your Full Retirement Age
Year of Birth	Full Retirement Age
1937 or earlier	65
1938	65 and 2 months
1939	65 and 4 months
1940	65 and 6 months
1941	65 and 8 months
1942	65 and 10 months
1943-1954	66
1955	66 and 2 months
1956	66 and 4 months
1957	66 and 6 months
1958	66 and 8 months
1959	66 and 10 months
1960 and later	67
Source: SSA.gov. Ages are subject to change. If you were born on Jan. 1, refer to the previous year.