What Is Full Retirement Age for Someone Born in 1959?

If you were born in 1959, you’re closing in on your full retirement age. But you’re not quite there yet.

For people born in 1959, the full retirement age is 66 years and 10 months old. Your full retirement age is the age at which you are eligible to begin receiving the full amount of your Social Security retirement benefits. 

Most people born in 1959 will reach their full retirement age in 2026.

How Much Social Security Will I Get at Age 63?

Although you must wait until you are 66 years and 10 months old to retire and receive the full amount of your Social Security benefits, you don’t have to wait that long to receive anything at all. 

Regardless of the year you were born, you are eligible to begin receiving reduced Social Security retirement benefits at age 62.

• If you begin collecting at age 62, you will receive just 70.8% of your benefits.
  
  
• If you begin collecting retirement pay at age 63, you will receive 75.8%.
  
  
• Your benefits do not increase as you age. So, if you begin collecting benefits at age 63, you will always receive just 75.8% of the full amount.
  
  
• Likewise, you can boost your benefits beyond 100% if you delay your collection of benefits beyond your full retirement age. You can receive a maximum of 125.3% by waiting until age 70 to retire.

For context, the average Social Security retirement benefit amount as of February 2023 was $1,830 per month.

The Social Security Administration retirement planner for people born in 1959 provides a more detailed breakdown.

Can I Work and Collect Social Security at the Same Time?

You can collect Social Security retirement benefits while also earning a working income at the same time. If you have not yet reached your full retirement age, you can earn up to $21,240 from working in 2023 before your Social Security benefits begin to decrease.

Once you have reached your full retirement age there is no limit as to how much money you can earn by working.

When Can I Get Medicare If I Was Born in 1959?

If you were born in 1959, you will become eligible for Medicare in 2024 when you turn 65 years old. Age 65 is the standard eligibility age for Medicare regardless of the year in which you were born.

Your first opportunity to enroll typically starts three months before your 65th birthday and is called your Initial Enrollment Period (IEP). If you sign up during this period, coverage will begin on the first day of the month of your birthday.

You typically have until three months after your 65^th birthday to enroll in Medicare before potentially subjecting yourself to late enrollment penalties and coverage lapses.

If you are still working at age 65 and are covered by your employer’s health insurance, you do not have to enroll in Medicare if you’ll qualify for a Special Enrollment Period that will protect you from late enrollment fees once you do finally sign up.

Medicare supplements your employer insurance, however. This means it is the secondary payer when your employer health plan is the primary payer. This can be a good reason to enroll in Medicare as soon as you’re eligible, particularly if you qualify for premium-free Part A coverage.

If you are collecting Social Security by age 65, you will be automatically enrolled in Medicare. If not, you may have to enroll manually.

Our guide to Medicare eligibility and enrollment provides more detailed information about how and when to sign up for Medicare if you were born in 1959.