If you’re like many federal workers, you may not have a full understanding of your Normal Retirement Age (NRA) under Social Security rules. Also known as the Full Retirement Age (FRA), it’s based on the year you were born and it affects the amount of your monthly benefit if you file before you reach your NRA.
A Brief History Of Social Security
When the Social Security Act of 1935 became law, it provided the first federal-based program for the elderly, the disabled and their dependents, and created a social insurance program for retired workers age 65 and older. Age 65 remained the minimum age for full benefits until 1983 after several studies indicated the Social Security program was in danger of becoming insolvent.
As a result, President Reagan passed amendments gradually increasing the NRA from 65 to 67 over a 22-year period. However, as recently as 2024, lawmakers have been discussing the possibility of raising the NRA to age 70 to help ensure the program remains solvent.
“For example, if your NRA is 67, and you file at 62, you’ll only receive 70% of your earned benefit.”
Full Retirement Age (FRA)
The Normal Retirement Age (NRA) is the age at which you’re eligible to receive 100% of your earned monthly Social Security benefit. For those born in 1960, the NRA is now age 67 and it will remain at age 67 for everyone born in 1960 or later. You can check your NRA with this Social Security Calculator.
Early Retirement – Age 62
You can file for Social Security as early as age 62 but you’ll be subject to penalties that permanently reduce your benefit. For example, if your NRA is 67, and you file at 62, you’ll only receive 70% of your earned benefit. Depending on your life expectancy, this could drastically reduce the amount of Social Security you’ll receive over your lifetime. Check this Age Reduction chart to learn more.
Delayed Retirement – Up To Age 70
When you delay filing for benefits beyond your NRA, you earn credits that increase the amount of you’ll receive by 8% each year up until age 70. Since you can’t earn credits after age 70, there’s no incentive to delay any longer. For example, if you were born in 1960, and you delay until age 70 to file for your benefit, you’ll receive 132% of your earned benefit. Check this Delayed Retirement chart for more information.
As a FERS participant, Social Security is a source of guaranteed retirement income in addition to your FERS annuity (pension). Before you decide to “turn on” your Social Security benefit, connect with an FRC® trained advisor to learn more.
Sources:
https://www.ssa.gov/history/index.html
https://www.ssa.gov/oact/progdata/nra.html
https://www.ssa.gov/benefits/retirement/planner/agereduction.html
https://www.ssa.gov/benefits/retirement/planner/delayret.html
