#2 Full Retirement Age Officially Reaches 67
Workers born in 1960 turn 67 in 2027, becoming the first group to reach a Full Retirement Age (FRA) of 67. Anyone born in 1960 or later now has an FRA of 67, completing the gradual increase from age 65 that Congress enacted in 1983.
What does this mean for future filers? Claiming Social Security at age 62 permanently reduces your monthly payment by up to 30%, while waiting until age 67 ensures you receive 100% of your earned benefit.
Delaying benefits past your full retirement age up to age 70 earns delayed retirement credits that boost your permanent monthly payout even further. Coordinating when you claim with your health, savings, and overall financial goals can help maximize your lifetime retirement security.
