Social Security at 65: 86.7% of Full Benefit
86.7%
of Full Retirement Benefit
2 years before FRA — permanently reduced
If full benefit = $1,200/mo
$1,040/mo
If full benefit = $1,600/mo
$1,387/mo
If full benefit = $2,000/mo
$1,734/mo
If full benefit = $2,500/mo
$2,168/mo
If full benefit = $3,000/mo
$2,601/mo
The Claiming Age Decision
Claiming at 65 gives you 86.7% of your Primary Insurance Amount (PIA). This reduction is permanent — it applies for every month you receive benefits. The breakeven point vs waiting until 67: ~82 years old. If you live past the breakeven, waiting would have produced more lifetime income.