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If you were born in 1960, your Social Security full retirement age is now 67

The change is designed to slow the drain of Social Security funds

Updated:

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Mark Huffman
Reporter

Mark Huffman has covered consumer issues since 2004, with a special focus on protecting and empowering older adults. A former news correspondent for the Associated Press Radio Network, Westwood One, and ConsumerAffairs, Mark brings decades of journalistic experience to RetirementLiving.com. He is passionate about giving consumers a voice and helping them make informed decisions. Mark has also created educational content, including Senior Scam Alert, a video resource designed to help seniors recognize and avoid fraud. He holds a B.A. from the University of Kentucky and lives with his family in Richmond, Virginia.
social security news 2017

In a significant shift impacting millions of Americans, the Social Security Administration has officially increased the full retirement age (FRA) to 67 for individuals born in 1960 or later. 

This change, effective in 2025, marks the culmination of a gradual adjustment initiated by the 1983 amendments to the Social Security Act, aimed at addressing the program’s long-term financial challenges amid increasing life expectancies.

Understanding the change

Historically, the FRA was set at 65. However, legislative reforms in 1983 introduced a phased increase to 67, reflecting demographic shifts and the need for program sustainability. For those born in 1960, this means reaching age 65 in 2025 but having to wait until 2027 to claim full retirement benefits.

While individuals can still opt to begin receiving Social Security benefits as early as age 62, doing so results in a permanent reduction of monthly payments, up to 30% less than the full benefit amount. Conversely, delaying benefits beyond the FRA up to age 70 can increase monthly payments by approximately 8% per year, culminating in a potential 24% boost.

Future considerations

The adjustment to the FRA is part of broader efforts to ensure the solvency of the Social Security program. With projections indicating potential benefit reductions by 2033 if no further reforms are enacted, discussions continue around additional measures, including further increases to the FRA and other policy changes.

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