If your full retirement age is older than 65 (that is, you were born after 1937), you still will be able to take your retirement benefits at age 62, but the reduction in your benefit amount will be greater than it is for people retiring now.  

Here's how it works. If your full retirement age is 67, the reduction for starting your benefits at

• 62 is about 30 percent;
• age 63 is about 25 percent;
• age 64 is about 20 percent;
• age 65 is about 13 and 1/3 percent; and
• age 66 is about 6 and 2/3 percent.