Natalia
The long-standing belief that 65 is the magic age for full Social Security benefits is now outdated. In 2025, the Social Security Administration (SSA) has implemented another increase in the Full Retirement Age (FRA).
Let’s break down exactly how this affects your retirement timing, benefits, and financial planning.
Full Retirement Age by Birth Year: What’s New?
| Year of Birth | Full Retirement Age (FRA) |
|---|---|
| 1937 or earlier | 65 |
| 1943–1954 | 66 |
| 1958 | 66 years, 8 months |
| 1959 | 66 years, 10 months |
| 1960 or later | 67 |
As of 2025, people born in 1959 now have an FRA of 66 years, 10 months, and those born in 1960 or later will see their FRA at 67.
Why Is the Retirement Age Changing?
These incremental changes began in the 1983 Social Security Amendments to safeguard the solvency of the Social Security Trust Fund. Rising life expectancy and longer working years made the old retirement age outdated.
The phased adjustment ensures sustainable retirement benefits without depleting funds prematurely.
How Claiming Age Impacts Benefit Amounts
Timing makes a big difference. Claiming early at age 62 reduces your benefits, while delaying increases them:
| Age Claimed | Approx. Benefit |
|---|---|
| Age 62 | ~70% of FRA payout |
| FRA (66–67) | 100% of calculated benefit |
| Age 70 | Up to 124% via Delayed Retirement Credits (8% per year) |
For example, delaying your claim from FRA to age 70 can boost monthly benefits by up to 32%.
What This Means for You
- Those born in 1959 will gain full benefits at 66 years, 10 months, likely in November 2025.
- Those born in 1960 or later must wait until age 67 to collect unreduced benefits.
Simply put, 65 is no longer the benchmark. Delaying beyond FRA can significantly boost monthly income via credits.
The SSA’s FRA increase in 2025 reflects a necessary adaptation to longer lifespans and funding pressures. If you were born 1959, expect your retirement benefits at 66 years, 10 months—and if born 1960 or later, at 67.
Claiming early reduces your benefit, while waiting even a few years amplifies it. For better retirement planning, review your birth year, evaluate your claiming age, and explore how delaying benefits could maximize your payout. Need help calculating your best option? Just let me know—I’m ready to assist!