The last Americans eligible to reach Social Security’s full retirement age before 67 will do so this fall, completing a change Congress set in motion more than four decades ago.
"Full retirement age, also called 'normal retirement age,' was 65 for many years. In 1983, Congress passed a law to gradually raise the age because people are living longer and are generally healthier in older age,"
states the Social Security Administration (SSA).
People born in 1959 have a full retirement age of 66 years and 10 months. The final members of that group reach the milestone by the end of October, ending the phase-in for birth-year groups with a retirement age below 67. People born in 1960 or later generally have a full retirement age of 67,
according to the SSA.
November therefore marks the end of the gradual transition established by the
Social Security Amendments of 1983. Most people born in 1960 reach full retirement age in 2027, although a special rule applies to those born Jan. 1.
Full retirement age is when someone qualifies for an unreduced Social Security retirement benefit based on their earnings history. Workers can begin collecting at 62, but someone with a full retirement age of 67 would receive 30 percent less by claiming at 62.
However, waiting until 70 results in receiving 124 percent of the full retirement age amount,
according to the SSA.
For someone with a $ 2,000-per-month benefit at 67, for example, claiming at 62 would reduce the payment to about $1,400. Waiting until 70 would raise it to approximately $2,480—a difference of more than $1,000 a month between the earliest and latest claiming ages.
However, claiming is not an all-or-nothing decision limited to just ages 62, 67, and 70. Benefits are
calculated by the month a worker begins collecting them. Someone born in 1960 would face a 30 percent reduction at 62, compared with a 27.5 percent reduction at 62 and six months.
Many retirees claim before reaching full retirement age. In The Senior Citizens League’s
2025 Senior Survey, 68 percent of respondents said they began collecting Social Security early.
About 42 percent claimed as soon as they became eligible, while 26 percent waited longer but still claimed before full retirement age. About one in five waited until full retirement age, and one in 10 waited beyond it.
“The biggest reason seniors choose to claim their benefits early is financial pressure,” The Senior Citizens League said in its survey report.
About one-third of early claimants said they needed the benefits to afford basic expenses such as rent and groceries. Another 22 percent cited medical needs, while 6 percent reported another financial emergency. A smaller number said they claimed early to coordinate benefits with a spouse or pay off debt.
Congress approved the current retirement-age schedule during a Social Security financing crisis in 1983. Rather than impose an immediate two-year increase, the law gradually raised full retirement age from 65 to 67.
The
increase occurred in two stages.
Full retirement age first rose from 65 to 66. It remained at 66 for people born from 1943 through 1954 before increasing again for those born from 1955 through 1960.
Birth dates can also affect when you qualify for full Social Security benefits. Social Security treats people born on the first day of a month as though they were born during the previous month.
For example, someone born
Jan.1, 1960, is considered under the 1959 schedule, meaning their full retirement age is 66 years and 10 months rather than 67.
Future Social Security payments can be estimated by creating an online account at ssa.gov or using Social Security’s
online calculators.
