India, Feb. 8 -- For many Americans approaching retirement, deciding when to claim Social Security is an important financial choice. Claiming at age 67, which is considered full retirement age (FRA), allows retirees to receive their complete benefit without penalties or reductions.

According to Marca, 67 will be the consolidated full retirement age in 2026 for anyone born in 1960 or later, while those born in 1959 are reaching this milestone throughout the year.

Reaching full retirement age matters because it is the point at which the Social Security Administration (SSA) pays 100% of earned benefits. Claiming before FRA leads to permanent reductions, while delaying beyond it increases monthly payments.

Marca explained that retiring exa...