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Social Security benefits will increase by 0.3 percent beginning with the December 2016 benefits, which are payable in January 2017. Federal SSI payment levels will also increase by 0.3 percent effective for payments made for January 2017.
Three Options -- Early, Full and Late Retirement. Under the Social Security laws, you can begin to receive your retirement payments once you hit the age of 62 (early retirement), at full retirement age (varies by year you were born), or at late retirement age (any age after your full retirement age).