Social Security Retirement Benefits | American Funds

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Social Security Retirement Benefits

As you plan for retirement, it’s important to evaluate your Social Security options. If you retire before what’s considered full retirement age, your monthly benefits will be reduced. 

Use this table to find your full retirement age:

1937 or earlier
65
1938
65 and 2 months
1939
65 and 4 months
1940
65 and 6 months
1941
65 and 8 months
1942

65 and 10 months
1943-1954
66

1955
66 and 2 months
1956
66 and 4 months
1957
66 and 6 months
1958
66 and 8 months
1959
66 and 10 months
1960 and later
67

* If your birthday is on January 1, use the full retirement age for the previous year.

Social Security for 2017

The 2017 maximum benefit is $32,244 per person per year. If you return to work after you’ve started claiming Social Security benefits and you haven’t reached full retirement age, those payments may be reduced.

Use this table to figure out how much your benefits could be reduced:

If you’re under your full retirement age in 2017…

Your payments will be reduced $1 for every $2 you make over $16,920.

If you will reach your full retirement age in 2017…

Your payments will be reduced $1 for every $3 you make over $44,880 until the month you reach full retirement age. After that, you can work without any reduction in your benefits, no matter how much you earn.

For more details about your benefits (including a tool that helps you estimate what your benefits might be), visit the Social Security website.


Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.

Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectuses and summary prospectuses, which can be obtained from a financial professional and should be read carefully before investing.