A significant milestone that will impact when millions of Americans can get their full benefits is the official shift in Social Security full retirement age (FRA) to 67 for those born in 1960, which will begin in 2025. This is not a novel change, but for those who will be 65 in the coming years, it is a monumental event.
Beginning in 1983, a long-planned upgrade included the raising of the retirement age. In order for the Social Security program to keep up with individuals living longer, lawmakers at the time made changes to the program. But it isn’t until the first generation born in 1960 turns 65 that the full impact is realised. For more info, see the post that follows.
New Social Security Retirement Age for 2025
Those born in 1960 will reach the age of 65 in 2025, but they won’t be eligible to receive their full Social Security payments until they are 67. That is two full years past the age of 65, which has been the standard retirement age for many years. Despite not having reached full retirement age (FRA), you can start getting Social Security payments as primary as age 62. Early enrollment does, however, result in a permanent decrease in monthly costs. The Social Security Administration, for instance, states that if a person started receiving benefits at age 62, they would only receive $700 per month in comparison to someone eligible for $1,000 per month at age 67. Higher payouts, on the other hand, may result from postponing benefits past the FRA.
The same person’s monthly payment might rise to $1,240 (a 24% increase for postponing by three years) if they wait until they are 70 years old. In light of changing demographics, the adjustments are meant to maintain solvency. For persons born in 1959, the FRA increased to 66 years and 10 months as of 2025. In 2025, people who turn 66 will, depending on the month of their birth, attain their FRA between March 2025 and January 2026. The only people who will be eligible for full benefits in 2025 are those who were born prior to 1960 and attain their full retirement age (FRA). The full benefits will not be available to those who reach 65 in 2025 until they turn 67 in 2027.
Social Security FRA – Overview
| Article Name | It’s No Longer 65 or 67: Here’s the New Social Security Retirement Age for 2025 |
| Country | USA |
| Department | Social Security Administration |
| Retirement age | 67 |
| Early retirement age | 62 |
| Category | Finance aid |
| Year | 2025 |
| Official portal | ssa.gov |
What is the Full Social Security Retirement Age?
You can start getting full, unreduced Social Security retirement benefits at the age recognized as the FRA. The FRA for persons born after 1960 is 67. After 1937, the age was progressively raised from 65 to 67, with those born in 1960 and later reaching the final FRA of 67. 67 wasn’t always the FRA. It was progressively increased for individuals born after 1937 from 65 to 67. Your FRA, if you were born after 1960, is 67. The monthly amounts you get will be permanently lowered if you decide to begin receiving benefits before your FRA.
Both your spousal benefits, which you might be eligible to get based on your partner’s employment history, and the retirement benefits you earned while working are covered by those dates. The survivor benefits, which you can obtain in the event of your spouse’s death, are a little different. Survivors reached FRA at age 66 and 4 months for persons born in 1958, 66 and 6 months for persons born in 1959, and 67 for persons born in 1962 or later, increasing by two months per birth year.
Can You Take Early Retirement at 62?
At age 62, you are eligible to begin receiving Social Security benefits, but there is a catch: your monthly benefits will be permanently decreased. At age 67, your whole retirement benefit would be $1,000. Starting at age 62 will only earn $700 per month. That is a lifelong 30% reduction. Waiting past your FRA can pay off, though.
Delaying until you are 70 years old may result in a monthly payment of $1,240. Holding out for three more years results in a 24% gain. How long you plan to live and your financial demands will determine everything. The choices and repercussions, however, are obvious.
Why Change to Retirement Age to 67?
Aiming to address the financial viability of the Social Security program given rising life expectancy and an ageing population, the United States changed the full retirement age (FRA) for people born in 1960 or later from 66 to 67. This change, which has been implemented gradually since 1983, guarantees that the system can continue to provide benefits for a longer period of time by encouraging people to work longer. The US has seen a considerable increase in life expectancy since the original Social Security Act, which established the retirement age at 65.
This implies that people are living longer and receiving benefits for longer periods of time, which puts strain on the budget of the Social Security system. The FRA’s phased rise to 67 is a proactive step to keep the Social Security program financially stable. The system’s overall cost is decreased, and its long-term viability is enhanced, by postponing the age at which full benefits become available.
| Official Website | Click Here |
| Homepage | Moyle-Council.org |
FAQs
What is the full Social Security retirement age?
As per the SSA’s guidelines, 67 is the full social security retirement age for individuals.
What is the early retirement age in Social Security?
If you take retirement at the age of 62, it will be considered early retirement.
