Social Security Administration Changes Full Retirement Age to 67

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The Social Security Administration has officially raised the full retirement age to 67 for individuals born in 1960 or later. This change reflects a gradual increase in the FRA over the years. It means that for those affected, they will need to wait until they reach the age of 67 to receive their full Social Security retirement benefits. It is important to note that this adjustment primarily impacts the calculation of monthly benefits, and individuals can still choose to claim benefits as early as age 62 or as late as age 70.

Implications and Considerations

  • Enhanced Benefits: Waiting until the full retirement age of 67 can result in higher monthly benefits. By delaying the start of Social Security benefits, individuals can increase their monthly payments, as the benefits are designed to be actuarially adjusted for early or delayed retirement.
  • Long-Term Financial Planning: The change in the full retirement age necessitates a review of retirement strategies and financial plans. Individuals may need to reconsider their anticipated retirement age, savings goals, and investment strategies to ensure a comfortable retirement.
  • Work and Retirement Transition: With the retirement age being pushed to 67, individuals may need to extend their working years. It is essential to evaluate the impact on career plans, health considerations, and the overall work-to-retirement transition.

Maximizing Social Security Benefits

To optimize your Social Security benefits in light of the new full retirement age, consider the following strategies:

Delaying Benefit Claiming

Waiting beyond the full retirement age can result in increased monthly benefits. Each year you delay claiming benefits, up until age 70, leads to an 8% increase in your benefit amount. Assess your financial situation and health to determine if delaying benefits is a viable option for you.

Coordinating with Spousal Benefits

If you are married or have been married for at least ten years, you may be eligible for spousal benefits. Coordinating with your spouse’s benefits can help maximize your overall Social Security income. Explore the various claiming strategies available to married couples to determine the most advantageous approach.

Maximizing Earnings and Contributions

Your Social Security benefits are based on your earnings history. By maximizing your income during your working years, you can potentially increase your benefits. Explore opportunities for career growth, salary negotiation, and additional income sources to bolster your Social Security benefits.


Understanding the recent change in the full retirement age implemented by the Social Security Administration is crucial for effective retirement planning. With the retirement age now set at 67 for those born in 1960 or later, individuals need to review their retirement strategies, consider delaying benefit claiming, and explore ways to maximize their Social Security benefits. By adapting to these changes proactively, individuals can secure a more financially stable and fulfilling retirement.


  • The Social Security Administration has increased the full retirement age to 67 for individuals born in 1960 or later.
  • Waiting until age 67 can result in higher monthly benefits.
  • Individuals need to reassess their retirement strategies and financial plans.
  • Strategies such as delaying benefit claiming and coordinating with spousal benefits can help maximize Social Security income.

Useful Links:

  • – Official website of the Social Security Administration.
  • – Internal Revenue Service provides information on Social Security benefits and taxation.
  • – Official Medicare website, which is closely related to Social Security benefits.
  • – The American Association of Retired Persons (AARP) offers resources and information on retirement planning.

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