Fixed Income

Benefit Adjustment at Full Retirement Age

If you take early retirement benefits, those are the benefits you'll have your entire retirement.
Benefit Adjustment at Full Retirement Age
Retirement is already confusing enough without the misinformation. Inside Creative House/Shutterstock
Tom Margenau
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I hear one or both of these rumors about Social Security benefits all the time from readers.

Rumor 1: “I have been told that if I take a reduced Social Security benefit at 62, when I reach my full retirement age, my benefit will be bumped up to my full retirement age amount.”

Tom Margenau
Tom Margenau
Author
Tom Margenau worked for 32 years in a variety of positions for the Social Security Administration before retiring in 2005. He has served as the director of SSA’s public information office, the chief editor of more than 100 SSA publications, a deputy press officer and spokesman, and a speechwriter for the commissioner of Social Security. For 12 years, he also wrote Social Security columns for local newspapers, and recently published the book “Social Security: Simple and Smart.” If you have a Social Security question, contact him at [email protected]