Traditionally, the full retirement benefit age was 65. While early retirement was available at 62 (80% of full benefit amount). Currently, the full benefit age is 66 for people born in 1943-1954, and will gradually rise to 67 for those born in 1960 or later.
Early retirement benefits will continue to be available at age 62, but will be reduced more. When the full-benefit age reaches 67, benefits taken at age 62 will be reduced to 70% of the full benefit and Social Security Retirement Benefits first taken at age 65 will be reduced to 86.7% of the full benefit.