Social Security Full Retirement Age: Social Security Rules surrounding the new retirement age, with the new regulations starting from May

As of May 2025, the Social Security Agency’s gradual adjustment to the full retirement age (FRA) continues to shape the retirement decisions of millions of Americans. This phased change was originally established by the 1983 Social Security Act amendment to reflect the increase in life expectancy and ensure the long-term sustainability of social security programs.In 2025, individuals born in 1959 reached a critical milestone. Their full retirement age is now set to be 66 years and 10 months, depending on their birth month, and they will reach FRA between March 2025 and January 2026. This adjustment is part of a broader schedule that gradually increases FRA for each birth year. For example, people born in 1955 have a FRA of 66 years and 2 months, while individuals born in 1956 have to wait until 66 years and 4 months.
The FRA added two months in the following year: 66 years and 6 months born in 1957, 66 years and 8 months in 1958, and 66 years and 8 months in 1959. For anyone born in 1960 or later, the full retirement age is 67.
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Although individuals can start charging Social Security retirement benefits as early as 62 years of age, it depends on a significant trade-off: reduce monthly payments. For those with a FRA of 66 years and 10 months, starting earnings at age 62 will result in a permanent decrease of about 29.17%. On the other hand, delaying retirement outside of the FRA can greatly increase profits.

Retirement is postponed every year (up to 70 years old), with monthly income increasing by about 8%. This means that a person who waits until 70 receives much more people than the person who starts collecting each month.Please read also: Elon Musk sues: Does SpaceX use the bathroom frequently due to Crohn’s disease? These changes are driven by demographics. When the Social Security system began in 1935, the average life expectancy in the United States was about 61 years. Today, this number has climbed to nearly 79 years.

The 1983 reforms responded to these shifts, which gradually raised the FRA from 65 to 67 over decades. As a result, today’s retirees must carefully weigh when to ask for their benefits, balancing immediate needs with long-term financial security.