Social Security at 66: 93.3% of Full Benefit
93.3%
of Full Retirement Benefit
1 years before FRA — permanently reduced
If full benefit = $1,200/mo
$1,120/mo
If full benefit = $1,600/mo
$1,493/mo
If full benefit = $2,000/mo
$1,866/mo
If full benefit = $2,500/mo
$2,333/mo
If full benefit = $3,000/mo
$2,799/mo
The Claiming Age Decision
Claiming at 66 gives you 93.3% 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: ~83 years old. If you live past the breakeven, waiting would have produced more lifetime income.