Born after 1964? Your “normal” Social Security retirement age just moved.
If you were born in 1960 or later, you’ll need to wait until age 67 to claim full Social Security Retirement Benefits, a shift from the traditional age 65. According to official data from the Social Security Administration, full retirement age now varies by birth year—and for younger generations the threshold continues to rise.
These changes matter more than you think. They affect how much you’ll receive, when you should retire and how you should plan your savings and work years going forward.
1. Your full retirement age (FRA) is now based on your birth year.
If you were born in 1943–1954, your full retirement age was 66. For those born in 1955–1959, the age gradually increased by two-month increments per birth year—66 and 2 months for 1955, 66 and 10 months for 1959. If you were born in 1960 or later, the full retirement age is 67. This schedule reflects adjustments made decades ago to accommodate longer life expectancy and financial pressures on Social Security.
What that means in practice: if you claim your benefits before your FRA, you’ll face a permanent reduction in your monthly payment. That could significantly impact lifetime income—especially if you planned to retire at 65, assuming full benefits then.
2. Filing at 62 still possible—but the earlier you file the lower your check.
You can start collecting Social Security retirement benefits as early as age 62—regardless of your birth year—however your benefit will be permanently reduced relative to what you’d receive at your full retirement age. For those born in 1960 or later, claiming at 62 means accepting a substantial reduction because your FRA is 67. The longer you wait (up to age 70), the higher your benefit due to delayed retirement credits.
This adjustment complicates retirement planning. If your savings or health suggest you’d prefer to claim earlier, you’ll need to factor in a smaller monthly benefit. Matching when you claim with your financial reality matters more than ever.
3. The increase in FRA reflects broader trends in longevity and program funding.
When the Social Security system was reformed in 1983, legislators phased-in raises in full retirement age to help balance rising life spans and longer benefit durations. Today’s young retirees will draw benefits for more years than past generations. Fixing the FRA was one lever used to maintain program solvency while still preserving widespread access to retirement income.
That means the rule change isn’t arbitrary—it’s a fiscal realism check. While no further increases are legally scheduled beyond age 67 for those born in 1960 or later, any future law could still shift the target. It’s important you plan as though this may not be the last time the rules change.
4. Your retirement income picture changes dramatically if you retire at your new full age.
If you retire at age 67—your full retirement age—you receive 100 % of your benefit based on your lifetime earnings. But if you retire at 62, your benefit could be around 70 % of that amount (for those born in 1960 or later). Delaying claims until age 70 could boost monthly benefits by up to about 24 % over FRA. Consequently, how long you work, how much you earn and when you claim benefits all interplay more tightly now than they did for older birth cohorts.
That means retirement timing, savings, part-time work and the choice of when to claim benefits are more critical than ever. You no longer have a one-size‐fits‐all age for full benefits—you have to fit your decisions to your personal timeline.
5. For couples, the changes affect spousal and survivor benefits too.
If your spouse or partner was born in 1960 or later, the full retirement age schedule also governs when you claim spousal or widow(er) benefits. Earlier claiming reduces not only your benefit—but may also reduce what a surviving spouse would receive if you pass away first. Coordinating claiming strategies between partners becomes more complex and more valuable in this era of variable full retirement ages.
It’s wise to treat retirement planning as a joint project now, especially for couples. Deciding who claims when, how much to delay and how to adjust lifestyle expectations impacts both of you. A coordinated approach helps you maximize lifetime household income rather than make decisions in isolation.
6. Your savings gap is bigger than you think if you plan for age 65 and full benefit then.
Many people born after 1964 may have assumed they would qualify for full Social Security benefits at age 65—but that’s no longer accurate. If your full retirement age is 67, planning for age 65 means you’ll start benefits early. That early start carries a permanent reduction in payments and necessitates larger savings or longer work years to compensate. Ignoring the earlier age assumption could leave a surprising shortfall.
This means your savings targets, retirement budgets and expected benefit amounts need to be recalibrated. Getting an updated projection from the Social Security Administration and adjusting what you save and when you retire are now essential actions.
7. The rule change puts a premium on working longer or boosting retirement contributions.
Since your full benefit is delayed until age 67 and beyond, extending your career by a year or two can dramatically improve your financial foundation. That additional income widens your margin for error, boosts savings, and may raise your highest 35 years of earnings—one key factor in calculating your benefit. Delaying claiming also means higher monthly benefits later.
If work beyond age 65 is feasible and desirable, it may provide both better cash flow and larger Social Security payments. In turn, it gives you more flexibility about when you retire, how you invest and how you live in retirement—for longer, maybe more comfortably, and with less fear of shortfall.
8. Knowing your exact full retirement age keeps surprise reductions from sneaking in.
The full retirement age shift is incremental—but missing the details can cost thousands. For example, if you were born in 1958 your FRA is 66 and 8 months; if born in 1959 it’s 66 and 10 months; if born in 1960 or later it’s 67. Claiming full benefits one month early doesn’t seem huge—but multiplied over years of retirement and with inflation, it adds up.
Checking your personal My Social Security account, verifying your birth date, and confirming your FRA ensures you’re not assuming an outdated age. The old “age 65 for full benefits” no longer applies for many—and miscalculating could push your budget off course when you retire.