Incapacity/ incompetence. - the possession of a mental or physical defect that prevents a natural person from being able to enter into a legally binding contract-a person may have no capacity= complete inability to enter-or limited capacity= the ability to form only voidable contracts.
If a worker begins receiving benefits before his/her normal (or full) retirement age, the worker will receive a reduced benefit. A worker can choose to retire as early as age 62, but doing so may result in a reduction of as much as 30 percent.
The answer depends on which age you file for the social security benefits. For example, assume your full retirement age (FRA) is 66, and the maximum benefit for the FRA in 2016 is $2,639 per mo. Say, if youâre 62 & contemplate to file for an early benefit, you may only get 75% of the full benefit, which is $1,979/mo.