The congress passed a legislative in the year of 1983 according to which the SSA full benefit Retirement Age USA 2024 is increased. Currently the retirement age of the citizens in the USA is 67 years for men and for women employees the retirement age is 62 years and 2 months. In this article we will mention all the information about Retirement Age USA 2024, and we will know what is the Average Retirement Age USA 2024 on which most of the employees retire.
Retirement Age USA 2024
The actual retirement age which is called FRA is 67 years in which you will get all the benefits of social Security. All the citizen who was born in 1955 the full retirement age for them is 66 years and two months and for all the citizens who was born after 1960 or later the retirement age for those was raised up to 67 years. Firstly the early retirement benefits age was 62 years in which a permanent reduction in full benefit amount was 80%. The benefits or early retirement will be continued at the age of 62 years but it will reduce more. When you reach the full Retirement Age of 67 years the benefit taken by you at the age of 62 will be reduced by 70% of full beneficiary amount and if the benefits taken by the employee at the age of 65 years will be reduced to 86.7 percent of the full beneficiary amount. If you are delaying in taking the advantage of retirement after getting the FRA then the benefits will be increased by 8% per year. You can wait until the 70 years as after 70 years there is no advantage for not taking the benefit of retirement as no increment will be held after you turned 70 years.
| Name of Article | Retirement Age in USA |
| Year | 2024 |
| Full Benefit Retirement Age for men | 67 Years |
| Full Benefit Retirement Age for women | 62 years and 2 months |
| Retirement Age for person who Born in 1955 | 66 years |
| Early retirement age | 62 years |
| After retirement age benefit | 8% per year |
| Average Age of retirement for men | 64.7 Years |
| Average Age of retirement for Women | 62.1 years |
| Retirement benefits reduced by | 30% |
| Category | Finance |
USA Normal Retirement Age 2024
The government has changed the retirement age for all the citizens of the USA regularly as per the birth year in which they were born. A table having all the information about year in which you born and normal Retirement Age given below:
| Birth Year | Normal retirement Age |
| On or before 1937 | 65 Years |
| 1938 | 65 Years and 2 Months |
| 1939 | 65 Years and 4 Months |
| 1940 | 65 Years and 6 Months |
| 1941 | 65 Years and 8 Months |
| 1942 | 65 Years and 10 Months |
| 1943 – 1954 | 66 Years |
| 1955 | 66 Years to 2 Months |
| 1956 | 66 Years to 4 Months |
| 1957 | 66 Years to 6 Months |
| 1958 | 66 Years to 8 Months |
| 1959 | 66 Years to 10 Months |
| On or after 1960 | 67 Years |
Average Retirement Age USA 2024
According to the center for retirement research at Boston college the Average Retirement Age in the USA has increased. The Average Retirement Age USA 2024 is the age on which employees take retirement before the age of Normal Retirement. According to the research men’s take retirement in the age of 64 years and 6 months. The women employees of the USA takes retirements in the age of 62 years and 3 months. According to Gallon, the USA Average Retirement Age 2024 is 61 years.
| Year | USA Average Retirement Age 2024 for Men | USA Average Retirement Age 2024 for Women |
| 1962 | 66 | 53 |
| 1971 | 65 | 56 |
| 1974 | 64 | 56 |
| 1983 | 63 | 56 |
| 1986 | 62 | 57 |
| 1998 | 63 | 60 |
| 2010 | 64 | 62 |
| 2016 | 65 | 63 |
| 2021 | 64.7 | 62.1 |
Retirement Benefits At 62
| Born Year | Full Retirement Age | Retirement benefit reduced by |
| 1943 to 1954 | 66 | 25% |
| 1955 | 66 Years to 2 Months | 25. 83% |
| 1956 | 66 Years to 4 Months | 26.67% |
| 1957 | 66 Years to 6 Months | 27.5% |
| 1958 | 66 Years to 8 Months | 28.33% |
| 1959 | 66 Years to 10 Months | 29.17% |
| On or after 1960 | 67 Years | 30% |
FAQs on Retirement Age USA 2024
The age of retirement for all the people who were born on or after 1960 at the age of 67 Years.
Yes you can claim for the retirement benefits once you turn 62 years.
The Average Retirement Age USA 2024 for men is 64.7 years and for women 62.1 years in the USA.