Posted in: Social Security. Born inPeggy reached age 62 in She has worked in retail her whole life, the past twenty-five years spent in management. Peggy divorced from her husband 14 years ago, is still single and has no children. FRA is a government set limit that varies based on your year, month and day of birth. The Social Security administration permanently reduces your monthly benefit amount if you begin benefits before reaching FRA. Also, if you are still working, prior to FRA something called the Social Security earnings limit applies.