The retirement age for full Social Security benefits in the United States varies depending on the birth year of the recipient. Those born before 1943 can retire and receive full benefits at the age of 65, while the full benefit age is 66 for those born between 1943 and 1954.
Congressional legislation in 1983 enacted a deferred and subsequent increase in the minimum full benefit retirement age, according to the National Academy of Social Insurance. Those born after 1960 will have a full benefit retirement age of 67. Additionally, the Social Security system has created financial incentives for deferring retirement past the full benefit age. An 8 percent increase in Social Security payments is given per year retirement is deferred.