For decades, age 65 stood as the emblematic moment when Americans could retire and begin collecting full Social Security benefits. But that era is ending.
The full retirement age (FRA) has been creeping upward for years, and the final phase is now in effect: for those born in 1959, FRA is now 66 years, 10 months, and for 1960 and later, FRA is 67. This shift fundamentally changes retirement planning for millions.
FRA Schedule by Birth Year
| Year of Birth | Full Retirement Age (FRA) |
|---|---|
| 1943 – 1954 | 66 years |
| 1955 | 66 years, 2 months |
| 1956 | 66 years, 4 months |
| 1957 | 66 years, 6 months |
| 1958 | 66 years, 8 months |
| 1959 | 66 years, 10 months |
| 1960 and later | 67 years |
This table aligns with longstanding Social Security rules: for those born 1960 and after, FRA is 67.
Why the Shift to 66–67 Years?
1. Longer Life Expectancies & Demographics
Because people live longer, retirees collect benefits for more years. That pressures the Social Security trust funds.
2. Sustainability of the Program
The 1983 Social Security Amendments introduced this gradual FRA increase to keep the system solvent.
3. Cost Control without Reducing Benefits Upfront
Incremental increases help control growth in payouts without slashing current beneficiary benefits.
How Benefits Change with New FRA
- You can still claim as early as age 62, but with permanent reduction: up to ≈ 30% cut depending on your birth year.
- If you delay past your FRA, benefits increase via delayed retirement credits (8% per year until age 70).
- If you were born in 1959, your full benefit date shifts to 66 years, 10 months. For those born 1960 or later, 67 is your FRA.
Example: If your FRA is 67 with a full benefit of $2,000/month:
- Claim at 62 → perhaps ~$1,400 (−30%)
- Claim at 67 → $2,000
- Claim at 70 → ~$2,480 (+24%)
Who Is Affected & When
- Born in 1959: your FRA changed in 2025 (now 66y 10m).
- Born 1960 or later: your full benefit age is 67.
- Born 1958 or earlier: your FRA is unchanged (66 or lower).
- Early claimers (age 62–FRA): relative reductions shift slightly depending on cohort.
What You Should Do Now (As Retirement Looms)
- Check your earnings record via Social Security’s tools to ensure your history is accurate.
- Reevaluate your retirement timing — retiring at 65 often leads to reduced benefits under the new rules.
- Consider delaying benefits to maximize monthly income (especially if you expect to live long).
- Plan for bridge income (savings, part-time work) if you retire before your new FRA.
- Factor in taxes & Medicare when adjusting your income mix.
The shift means retirees can no longer expect Social Security’s “full” age to be 65. For those born in 1959, 66 years and 10 months is now the new benchmark; for anyone born in 1960 or later, it’s 67.
This change is more than symbolic — it affects how much income you receive, when you can claim, and how you’ll plan your finances.
If you’re nearing retirement, update your strategy now. Know your birth cohort’s FRA, reconsider early claims, and explore delaying benefits for maximum gain.
FAQs
Can I still retire at 65 under the new rules?
Yes, but you’ll receive benefits that are reduced permanently compared to your full benefit at the new FRA.
When did the FRA change to 66y10m for those born in 1959?
Does this change affect current retirees born before 1959?
No — the new FRA rules apply only to those born from 1959 onward. Earlier retirees retain their existing FRA and benefit formulas.