Social Security benefits full retirement age: Retiring at 65? Think again – see when you can actually get full social security
What is the Current Full Retirement Age for Social Security?
According to the MassLive report, the full retirement age is rising steadily, and this trend continues in 2025.
According to the Social Security Administration (SSA), you can start collecting retirement benefits as early as age 62, MassLive reports. However, you won’t be eligible for full benefits until you reach your full retirement age (FRA), and that age now depends on when you were born, according to the report.
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How Has the Full Retirement Age Changed Over the Years?
The full retirement age for those born between 1943 and 1954 was 66, according to the MassLive report. But starting with people born in 1955, age began to increase by two months each year, according to the MassLive report. For example, someone born in 1955 reached full retirement in 66 years and two months, while those born in 1956 reached full retirement in 66 years and four months, according to the MassLive report.
What is the Full Retirement Age This Year?
This gradual climb has not stopped. According to the MassLive report, those born between May 2, 1958 and February 28, 1959 will reach full retirement age at 66 years and 10 months in 2025. However, according to the report, if you were born after February 1959, your retirement age increases to 67. ALSO READ: Trump confirms CIA is conducting covert operations in Venezuela; What’s really going on?
Why is the Retirement Age Rising?
According to the report, the origins of this change lie in a law passed by Congress in 1983 that linked increasing retirement ages to longer life expectancy. Under this law, the full retirement age will continue to rise until 2027, when it will stabilize at age 67, and will remain at that level for now, according to a MassLive report.
How Waiting Longer Could Increase Social Security Payments
While it’s possible to start reaping benefits sooner, there’s a tradeoff, according to the report. The SSA notes that accepting benefits before you reach full retirement age will result in a permanent reduction in your monthly payments, according to the MassLive report. On the other hand, according to the report, deferring benefits until age 70 may increase your payment.
Both choices have pros and cons. Retiring early allows you to collect benefits longer, but also receiving smaller checks each month and waiting longer increases your payments but delays your access to them, according to the MassLive report.
FAQ
Can I still retire at 65 and receive full Social Security?
No. For most people today, full benefits begin as they approach age 67, according to the MassLive report.
At what age can I get SSI at the earliest?
You can start at age 62, but your benefits will be less, according to the MassLive report.
