Considering the nature of SS from the beginning, the age at which a recipient can begin to receive it should be adjusted each year according to actuarial tables.
I disagree. We worked under a contract agreement.That agreement had the age at 66 for full benefits. You shall not breach that agreement. Talk about tables? How about the table of earnings on our money? It is a trust fund!! Lock box right? They didn’t steal our money did they. That is theft!! a felony!!
Yeah...and when Obamacare kicks in life expectancy is going back to the original 65.
Resulting in a big increase in SS payments.
As of 2011, the earliest age for Social Security retirement benefits is 62, but those opting to receive benefits at this age will see benefits reduced by a fraction of a percent for every month before the full retirement age. For those born before 1943, the full retirement age is 65. For those born between 1943 and 1959, the full retirement age is 66, and those born after 1960 receive full retirement benefits at 67.
Those delaying taking Social Security benefits until after the full retirement age for their particular date of birth may increase benefits by a monthly percentage for each month until reaching age 70.