Social Security Questions? Ask a Social Security Expert
Good evening and thank you for submitting your question regarding social security benefits. My name is Alexander; I'm an EA and am happy to assist you with this issue.
If you begin taking social security benefits before you reach full retirement age (66, based on your DOB), you will receive reduced benefits. Since you are thinking about taking benefits 3 - 4 months before you reach full retirement age, you would give up between 1.6667% - 2.2222% of your full retirement benefits (5/9 of 1% each month you take early benefits). You would NOT be eligible to receive your full retirement age benefit in June of 2016 if you take early benefits.
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If you take early benefits then yes: your benefits are permanently reduced by the amount that correlates to the number of months prior to reaching full retirement age that you began receiving benefits.
Thank you for the opportunity to assist you; if I can be of help with another issue, please do not hesitate to let me know!