2. Full retirement age (FRA) goes up

November 2025 comes with surprises, too. The full retirement age goes up to 66 years and 10 months for individuals born in 1959, eligible to receive their Social Security benefits entirely.

At the beginning of next year, the full retirement age for those who were born in 1960 or later will actually reach 67.

Curious when you’ll actually reach your full retirement age? Here are some examples:

• Born in 1960 or later? Your FRA is 67 and will be reached in 2026 and after
• Born in 1959? Your FRA is 66 and 10 months and is reached this year
• Born in 1958? Your FRA is 66 and 6 months and was reached last year

Important! If you’re born on January 1 of any year, your FRA should refer to the previous year.

Your monthly payment is significantly impacted by when you begin to receive Social Security benefits. Taking benefits early at 62 reduces your check, while waiting until your full retirement age (FRA) or later increases it. Early retirement cuts benefits by about 5/9 of 1% per month for up to three years before FRA, and slightly less for months beyond that.

Delaying past FRA boosts your payments: each month you wait adds about 0.67%, or up to 8% more per year, until age 70. Working longer can also raise your benefit by adding higher-earning years to your record.