Early retirement age refers to the age at which a person can start receiving retirement benefits, but with a reduced amount. According to the Social Security Administration, 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 reduction is calculated based on the number of months before the normal retirement age, which is 67 for those born in 1960 or later. For example, if a person retires at age 62, the benefit is reduced 5/9 of one percent for each month before normal retirement age, up to 36 months. If the number of months exceeds 36, then the benefit is further reduced 5/12 of one percent per month.

It is important to note that the age at which a person can start receiving retirement benefits varies depending on the country and the retirement plan. In the United States, for example, most people are not eligible for Social Security retirement benefits until theyre 62. However, some people may be able to withdraw money early from their 401(k) accounts penalty-free if they leave their jobs at age 55 and up.

In summary, early retirement age in the United States is generally considered to be age 62, but starting to receive benefits before the normal retirement age of 67 may result in a reduction of up to 30 percent.