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.
Taking SS at 62 is not a small reduction. It’s like 30% less. You obviously didn’t do your homework and listened to ill-informed people. What are your other sources of income? If you don’t have any other income investments, then you planned poorly. SS was never meant to support your retirement on its own. Don’t blame SS because you can’t pay your bills. Because you took early SS you don’t get a bump up when you reach FRA.
I worked as a Musician all my life. I will turn 76 this year. My manager told me several years ago that I should file my SS retirement early because I just don’t make enough $. I was informed that my monthly payment Will be reduced by a small amount because of early retirement. My question is why after I finally reach my FRA, why shouldn’t I get my full money payment at that point. The $ I receive now are not enough to make my monthly payments. The cost of everything has gone up much more than the government says. In Ca. the creed has caused every bill that I have, and I do mean every one of them, almost 40-50%. I still work, have to as long as I can. I served in the Army, was drafted in 1970. I’ve some how paid all taxes. I was even audited once as well. The Govenment has failed us. The present people in charge are thugs and obviously are serving there needs no us. The two party’s even call or text sometimes 6 or 7 times a day asking for $. I want that to stop. Something needs to be done or there will be some sort of uprising. We have been lied to!!!
When the S.S. faces insolvency in 7 years then we seniors should automatically be enrolled in the program that the congress critters are in. After all, it was they that was using our Social Security as their own piggy bank.
I agree!
Not Congress or any other entity should be able to raid the Social Security Trust Fund. Kee your hands off!
FRA for someone born in 1958 last year was 66 and 8 months not 66and 6 months. You should correct that on your info.
Will there ever be a chance that our cola raise will not be almost all taken for medIicare? It helps us very little to get a cola raise, when most of it is taken back. It would be nice, when the cost of living gos up so much, to get to keep it for a change!!!!!
why are they doing this to us seniors. We have worked and paid taxes all our working years and now you want to lower our ss., how are we suppose to live?
How are govt employees stealing?
Funny thing is, I never knew about the 40 credits & didn’t know I was in college!! I worked hard & found out I was shy 1 credit. I started drawing at 63 & I hope I live long enough to see them take that 1 credit I was shy & stick it where the sun don’t shine. I hope I end up drawing more than I would’ve if I waited until I was old as dirt to draw my SS. Well, if SS runs out of money, I guess it won’t matter now will it?!!