I will turn 66 on November 30 2017 , can I start receiving my full social security benefits in January of 2017 . I was under the impression you could start your benefits in January of the calendar year you turn 66 , is this right ? Thank you

Hi,

No. You can file for benefits effective with January, but since you won't reach full retirement age (FRA) until November, your benefit rate will be reduced for age if you do. In your case, starting benefits 10 months prior to FRA would result in a 5.55% reduction from your full retirement age rate.

What you may be referencing is the fact that the Social Security earnings test(https://www.ssa.gov/planners/retire/whileworking2.html) changes in the year you reach full retirement age. Specifically, the exempt amount of earnings increases, and the withholding rate is decreases. Also, only earnings in the months prior to the month of FRA attainment count toward the earnings limit. So, if you are still working, you could earn up to $44,880 in the first 10 months of 2017 and still draw all of your benefits starting with January. However, your benefit rate will be reduced for age if you start drawing benefits prior to your month of FRA attainment.

Best, Jerry