re social security benefits, what is full retirement age
If you take the early retirement option, your benefits will be reduced 5/9 of one percent for each month before your full retirement age that you begin receiving benefits, up to 36 months. For each month above 36 months before your full retirement age, the reduction formula is 5/12 of one percent. For example, if you were born in 1951 and decide to retire at age 62, four years before your full retirement age of 66, there are a total of 48 months of reduction.