From The Motley Fool · Kailey Hagen, CFP® · · 50s
3 Things to Know About Social Security FRA in 2027
Reaching Social Security's full retirement age by 2027 avoids early penalties and offers benefit boosts.
In brief
Reaching Social Security's full retirement age by 2027 avoids early penalties and offers benefit boosts. People hitting Social Security's full retirement age in 2027 avoid early claiming penalties and may get one-time benefit boosts from past earnings test withholdings. Originally reported by The Motley Fool.
No early claiming penalty
Waiting until your full retirement age of 67 to sign up for Social Security avoids early claiming penalties.
Earnings test benefit boost
Social Security beneficiaries who lost money due to the earnings test could get a one-time benefit boost once they reach their full retirement age.
Option to suspend benefits
You can suspend your Social Security checks for up to three years to boost your monthly payments by 24%.
The headline
People hitting Social Security's full retirement age in 2027 avoid early claiming penalties and may get one-time benefit boosts from past earnings test withholdings.
