2. Full Retirement Age (FRA) Rises to 67

Starting November 2025, the full retirement age (FRA) increases to 66 years and 10 months for people born in 1959, and it will reach 67 years for those born in 1960 or later.

Your FRA determines when you can receive 100% of your benefits. Retiring early (at 62) can permanently reduce your monthly payments, while delaying until age 70 can boost benefits by up to 8% per year.

👉 Tip: Use an online Social Security calculator or speak with a retirement advisor to estimate how delaying benefits impacts your long-term retirement income strategy.