By Cynthia Grau/WJEZ News

At what age a person retires can make a large difference in how much they receive in Social Security benefits.

Kevin Rice with the Social Security Administration was a guest on a recent Community Forum and gave details of exactly how the figures work.

“If you take it early – you can still take it as early as age 62, your maximum benefit this year would be about $2,102. So, that full retirement age is kind of a moving target. We’re reaching that plateau where if you’re born in 1943 to 1954, your full retirement age is 66, then it starts moving up again, gradually to age 67. But if your full retirement age is 66 and you want to take it early at age 62, you’re looking at about a 25 percent cut,” Rice said.

The complete forum is available in the podcast section at wjez.com.