Full retirement age will be 67 for people born in 1960 and later

The age at which you can claim your full Social Security benefit — the amount you earned without any reduction for claiming early — reaches 67 in 2026. This applies to anyone born in 1960 or later. The shift happened gradually: for people born between 1943 and 1954, full retirement age was 66. For those born between 1955 and 1959, it increases by two months for each birth year. Starting with the 1960 birth cohort, it stays at 67.

This change affects when you can claim your full benefit amount, but it does not change when you can first claim Social Security. You can still claim as early as age 62, but the reduction for claiming before full retirement age grows larger as full retirement age rises. The longer you wait past full retirement age, the larger your monthly benefit becomes — up to age 70.

Key Takeaways

  • Full retirement age reaches 67 permanently for people born in 1960 or later, meaning they must wait until 67 to receive their full benefit amount without reduction.
  • You can still claim Social Security at 62, but your monthly payment will be permanently reduced by a larger percentage than it would have been when full retirement age was 66.
  • Waiting past full retirement age until 70 increases your monthly benefit by 8 percent per year, which compounds over time.
  • The year you were born determines your full retirement age; you can find yours by checking the Social Security Administration's official chart.

How the increase from 66 to 67 affects your benefit amount

When full retirement age was 66, someone claiming at 62 received about 70 percent of their full benefit. Now that full retirement age is 67 for the 1960 birth cohort, claiming at 62 means receiving about 70 percent of a smaller full benefit — because the full benefit itself is calculated differently. The reduction percentage stays roughly the same, but it applies to a lower starting point.

The Social Security Administration recalculates your benefit based on your earnings record and the full retirement age that applies to you. If you were born in 1960 and claim at 62, your monthly payment will reflect both the reduction for early claiming and the fact that your full retirement age is 67, not 66. This compounds the effect: you get less per month, and you get it for longer if you live a long life.

Claiming before 67 versus waiting until 67 or later

Claiming at 62 gives you payments for five more years than waiting until 67, but each payment is smaller. The total amount you receive by a given age depends on how long you live. Someone who dies at 75 will have received more total money by claiming at 62. Someone who lives to 85 or beyond will have received more by waiting until 67 or later.

If you claim between 62 and 67, you also face an earnings test: if you work and earn above a certain amount (which changes yearly), Social Security reduces your benefit by $1 for every $2 you earn above the limit. This test stops once you reach full retirement age. Waiting until 67 removes this earnings limit entirely and increases your monthly payment.

Delaying past 67 to age 70 increases your benefit by 8 percent per year. Someone born in 1960 who waits from 67 to 70 receives 24 percent more per month than they would at 67. This increase is permanent and continues for life.

How to find your specific full retirement age

The Social Security Administration publishes a chart showing full retirement age by birth year. If you were born between 1955 and 1959, your full retirement age falls between 66 and 67 — it increases by two months for each year of birth. You can find the exact age on the SSA website or by calling 1-800-772-1213.

Your Social Security statement, which you can view online at ssa.gov, also shows your full retirement age. If you have not created an account yet, you can set one up with your email address and Social Security number. The statement lists your earnings record and estimates what you might receive at different claiming ages.

What the 67 full retirement age means for people born before 1960

If you were born before 1960, your full retirement age is lower than 67. Someone born in 1959 has a full retirement age of 66 and 10 months. Someone born in 1954 has a full retirement age of 66. Someone born in 1943 or earlier has a full retirement age of 66.

The change to 67 does not affect your benefits. You can claim your full benefit at your own full retirement age, which the SSA determined based on your birth year when the law was written. The increase to 67 applies only to people born in 1960 and later.

Earnings limits and work after claiming

If you claim before reaching full retirement age and continue working, Social Security reduces your benefit based on your earnings. For 2024, the limit is $23,400 per year; the amount changes yearly. If you earn more than this, your benefit is reduced by $1 for every $2 above the limit.

Once you reach full retirement age, there is no earnings limit. You can work and earn as much as you want without any reduction to your benefit. This is one reason some people choose to wait: they can work longer without losing benefits, and their monthly payment is higher when they do claim.

Frequently Asked Questions

Can I still claim Social Security at 62 if my full retirement age is 67?

Yes. You can claim as early as 62 regardless of your full retirement age. Your benefit will be reduced because you are claiming before full retirement age, and the reduction is larger now that full retirement age is 67 instead of 66. The exact reduction depends on how many months early you claim.

What happens to my benefit if I claim at 67 instead of waiting until 70?

You receive your full benefit amount at 67. If you wait until 70, your monthly payment increases by 8 percent per year — 24 percent total. You receive fewer payments over your lifetime if you die before 80, but more total money if you live into your mid-80s or beyond.

Does the change to 67 affect Medicare?

No. Medicare may be able to access starts at 65 for most people, regardless of your Social Security full retirement age. You can claim Medicare at 65 and delay Social Security until 67 or later. The two programs have separate rules.

How do I know what my full retirement age is?

Check the Social Security Administration's official chart by birth year at ssa.gov, or view your Social Security statement online. You can also call 1-800-772-1213. Your full retirement age depends only on the year you were born.

If I was born in 1960, can I claim at 66 and get my full benefit?

No. Your full retirement age is 67, so claiming at 66 means your benefit is reduced. The reduction is permanent — it applies to every payment you receive for the rest of your life.