India, Dec. 1 -- The Social Security Administration (SSA) is changing the rules governing eligibility for full retirement benefits, which has many Americans wondering what age the new rules permit full payments.

The year of birth currently determines the usual full retirement age. However, many retirees may be affected by the upcoming change.

People can begin receiving Social Security payments under the current system as early as age 62, but doing so permanently reduces their monthly benefit. Individuals born between 1943 and 1954 are eligible for full benefits at age 66. On the other hand, those born after 1960 will achieve full retirement age at age 67.

Notably, these age limits will shortly be raised again due to a newly approved mo...