At what age can individuals begin receiving reduced Social Security retirement benefits?

Individuals can begin receiving reduced Social Security retirement benefits at age 62. This option allows for early retirement, although the benefits will be less than those available at full retirement age. Full retirement age varies depending on the year of birth, typically ranging from 66 to 67 years old for those born in 1960 and later. Choosing to take benefits early at age 62 results in a permanent reduction, as benefits are calculated based on the number of months taken early. Thus, while individuals have the option to begin receiving benefits as early as 62, doing so has implications on the total monthly payout over the course of retirement.