How To Get Full Retirement Benefits

:Social Security Retirement:

It's best to wait as much as possible

If your age is already in the sixth decade and you are thinking to claim Social Security retirement at highest profit, then it is best to wait until you reach the full retirement age, which surely will happen between 66 and 70 years of age.

According to a recent report by Social Security Consumer Reports, they guides the organization of consumers that each person who are claiming for their Social Security Retirement benefits should make sure what is their full retirement age. Under current rules:

• Those born before 1943, their full retirement age is 65 years.
• Those born between 1943 and 1954, their full retirement age is 66 years.
• Those born after 1960 the age their full retirement age is 67 years.

Only above mentioned retirement ages can get full Social Security Retirement Benefits.

For example, according to information from the website of Social Security, a person whose age is 66 and decided to fully retire at 62 will receive a retirement income 25% lower than its exact retirement age. Also, if the same person waits until age 70 to retire, the income can be increased by 32% compared with that at age 66.

"The best advice is to wait as much as we can at least until age 70. Waiting beyond 70 does not increase the benefit," said Tobie Stanger, senior editor of Consumer Reports.