For many Americans nearing retirement, there’s a new number to remember, which is 67.
Starting in 2025, the full retirement age (FRA) for Social Security officially moves to 67 for those born in 1960, reports the Newsweek.
This marks the end of a decades-long phase-in that affects how and when millions can claim their benefits.
The change isn’t sudden. It’s the result of amendments made in 1983 to the Social Security Act, aimed at strengthening the programme’s finances and accounting for people living longer. But it’s only now, as more older Americans reach 65, that the change is finally being felt.
In practical terms, anyone born in 1960 will turn 65 in 2025, but they won’t be eligible for full retirement benefits until age 67. That’s the latest milestone in a gradual two-year increase from the previous retirement age of 65.
Early vs full benefits
Claiming Social Security before reaching the full age is still possible. Benefits can start as early as 62. However, early retirees face a permanent reduction. According to the Social Security Administration, someone entitled to $1,000 a month at age 67 would receive just $700 if they started at 62.
On the other hand, waiting beyond the FRA can boost monthly payments. If a person delays until age 70, they could see their benefit rise to $1,240, which is a 24% increase for waiting three extra years.
Who can get full benefits in 2025?
Only those born before 1960 will reach their FRA and become eligible for full benefits in 2025. Others who turn 65 that year will have to wait until they’re 67 in 2027. The exact retirement age depends on birth year:
Why the shift matters now
The change comes at a time when nearly 4 million Americans are expected to turn 65 in 2025. This is part of what experts call the “silver tsunami”, a nickname for the large number of older adults now reaching retirement age. As more people retire, the Social Security system faces greater financial pressure to keep up with payments.
Michael Ryan, finance expert and founder of MichaelRyanMoney.com, told Newsweek, “This isn’t just a bureaucratic adjustment but a response to increasing life expectancies and the financial challenges facing Social Security.”
Solvency concerns
Social Security’s trust fund for retirement benefits is projected to run short by 2033, according to a 2024 report by the Social Security Board of Trustees. If no changes are made, the system could only pay about 77% of scheduled benefits after that date.
Lawmakers remain divided. Republicans have supported raising the retirement age further, with the Republican Study Committee proposing in 2024 “modest adjustments to the retirement age for future retirees to account for increases in life expectancy.”
Meanwhile, Democrats are pushing for a different solution. Senator Sheldon Whitehouse and Representative Brendan Boyle reintroduced the Social Security and Medicare Fair Share Act . It would apply payroll taxes to earnings above $400,000, a threshold currently exempt under the $168,600 tax cap.
Boyle said in a press release: “This bill would protect Social Security and Medicare for generations by making the wealthiest Americans pay what they owe. While Republicans are pushing a $7 trillion tax giveaway to the ultra-rich, we’re working to protect the benefits that millions of Americans have earned—and we won’t let them be stolen to fund another billionaire windfall.”
Starting in 2025, the full retirement age (FRA) for Social Security officially moves to 67 for those born in 1960, reports the Newsweek.
This marks the end of a decades-long phase-in that affects how and when millions can claim their benefits.
The change isn’t sudden. It’s the result of amendments made in 1983 to the Social Security Act, aimed at strengthening the programme’s finances and accounting for people living longer. But it’s only now, as more older Americans reach 65, that the change is finally being felt.
In practical terms, anyone born in 1960 will turn 65 in 2025, but they won’t be eligible for full retirement benefits until age 67. That’s the latest milestone in a gradual two-year increase from the previous retirement age of 65.
Early vs full benefits
Claiming Social Security before reaching the full age is still possible. Benefits can start as early as 62. However, early retirees face a permanent reduction. According to the Social Security Administration, someone entitled to $1,000 a month at age 67 would receive just $700 if they started at 62.
On the other hand, waiting beyond the FRA can boost monthly payments. If a person delays until age 70, they could see their benefit rise to $1,240, which is a 24% increase for waiting three extra years.
Who can get full benefits in 2025?
Only those born before 1960 will reach their FRA and become eligible for full benefits in 2025. Others who turn 65 that year will have to wait until they’re 67 in 2027. The exact retirement age depends on birth year:
- Born 1943–1954: FRA is 66
- Born 1955: FRA is 66 and 2 months
- Born 1956: FRA is 66 and 4 months
- Born 1957: FRA is 66 and 6 months
- Born 1958: FRA is 66 and 8 months
- Born 1959: FRA is 66 and 10 months
- Born 1960 or later: FRA is 67
Why the shift matters now
The change comes at a time when nearly 4 million Americans are expected to turn 65 in 2025. This is part of what experts call the “silver tsunami”, a nickname for the large number of older adults now reaching retirement age. As more people retire, the Social Security system faces greater financial pressure to keep up with payments.
Michael Ryan, finance expert and founder of MichaelRyanMoney.com, told Newsweek, “This isn’t just a bureaucratic adjustment but a response to increasing life expectancies and the financial challenges facing Social Security.”
Solvency concerns
Social Security’s trust fund for retirement benefits is projected to run short by 2033, according to a 2024 report by the Social Security Board of Trustees. If no changes are made, the system could only pay about 77% of scheduled benefits after that date.
Lawmakers remain divided. Republicans have supported raising the retirement age further, with the Republican Study Committee proposing in 2024 “modest adjustments to the retirement age for future retirees to account for increases in life expectancy.”
Meanwhile, Democrats are pushing for a different solution. Senator Sheldon Whitehouse and Representative Brendan Boyle reintroduced the Social Security and Medicare Fair Share Act . It would apply payroll taxes to earnings above $400,000, a threshold currently exempt under the $168,600 tax cap.
Boyle said in a press release: “This bill would protect Social Security and Medicare for generations by making the wealthiest Americans pay what they owe. While Republicans are pushing a $7 trillion tax giveaway to the ultra-rich, we’re working to protect the benefits that millions of Americans have earned—and we won’t let them be stolen to fund another billionaire windfall.”
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