Discover the New Age for Full Social Security Benefits: Retirement Beyond 65
The age for full Social Security benefits has been steadily increasing. Historically, 65 was regarded as the eligibility age for retirement benefits. However, this has changed due to legislation enacted to accommodate longer life expectancies.
Retirement Age Changes and Full Benefits
As of 2025, most Americans can start receiving Social Security retirement benefits at age 62. However, full benefits are only available at the designated full retirement age (FRA).
Determining Full Retirement Age
Full retirement age varies based on birth year. Here’s a breakdown:
- Individuals born between 1943 and 1954 have a FRA of 66.
- For those born in 1955, the FRA is 66 years and 2 months.
- Individuals born in 1956 will reach FRA at 66 years and 4 months.
- Those born in 1959 will not reach FRA until 66 years and 10 months.
- People born in 1960 or later must wait until age 67 for full benefits.
Legislative Background
The gradual increase in retirement age stems from a law passed in 1983. This legislation was created to adjust the eligibility age in response to rising life expectancies. The adjustment will continue until 2027, with age 67 becoming the standard retirement age.
Impacts of Early or Delayed Benefits
Delaying retirement benefits can result in increased amounts. According to the Social Security Administration, if you wait until age 70 to take your benefits, you may receive a higher payout. Conversely, if benefits are taken early, they will be reduced for every month before reaching full retirement age.
Upcoming Changes in 2025
In 2025, those born between May 2, 1958, and February 28, 1959, will attain their full retirement age. After this group, the retirement age for those born in 1960 and beyond will remain fixed at 67.
The current trajectory of retirement age adjustments is set to stabilize in early 2026, ensuring that 67 years remains the standard age for full Social Security benefits.
Understanding these changes is crucial for planning a financially secure retirement. Be prepared to navigate the complexities of Social Security and make informed decisions regarding your benefits.
