Every year comes with different changes, and 2026 will bring a huge change in the full retirement age for receiving Social Security benefits. For many years, the sweet age for retiring in the USA has been 65, as at this age, people could access their full social security benefits. But from the next year, this is going to change.
The Full Retirement Age at which a person can receive their full security benefits will increase significantly, according to the reports of the SSA. And those who were thinking of retiring at the age of 65 might have to rethink their plan again.
New Social Security Retirement Age 2026
It has been in notice that the age required for social security has been increasing with time. As of now those born before 1960, the age required is around 65 to 67. The FRA has officially declared and shifted the retirement age for people born in 1960 to 67. This shift will bring a major concern to those who will turn 65 in 2026. It’s a total wait of two more years before anyone can claim the full benefits of the Social Security Plan.
This increase in the retirement age of the beneficiaries who are to receive the full social security benefits is fully implemented by the US Government. Taking into consideration a law that was formed in the year 1983. The law mentions that life expectancy is the main factor in deciding the age requirement for receiving social security benefits.
This law was passed by Congress, claiming that due to medical benefits and improvements, the health of people has improved, and they are living longer than usual. Therefore, the age criteria should increase with time.
New Full Retirement Age For Social Security Benefits – Overview
| Article on | New Full Retirement Age For Social Security Benefits |
| Country | USA |
| Department | SSA |
| Beneficiary | Senior Citizens, Disabled, Retirees, Widows |
| Amount | According to Annual Income and Assets |
| New FRA | 67 |
| Category | Government Aid |
| Payment Date | According to the Date of Birth |
| Official website | www.ssa.gov |
Social Security Benefits
Social security benefits are payments offered by the federal government of the USA, which are meant to support citizens in their retirement phase, if they are disabled, or in case a working spouse or child has died. It comes under the Department of SSA. An individual contributes towards the Social Security program throughout their working years to avail the benefits at the time of retirement or if they incur any disability.
The basic eligibility criteria for getting this benefit are
- Your age and the required age for qualifying for the benefits of Social Security
- If you have any disability or you are suffering from blindness
- You have lost a spouse who was earning, or you are a child who has lost a parent
- You cannot afford basic essentials like a home, food, or medical requirements.
Calculation of Full Requirement age for 2026
As we have already discussed that the minimum age to receive the full social security benefits depends on both your current age and the year you were born. As the requirement changes gradually with the years passing by.
| Birth year | Age to receive full Social Security Benefits (FRA) |
| 1943-1954 | 66 |
| 1955 | 66 years & 2 months |
| 1956 | 66 years and 4 months |
| 1957 | 66 years and 6 months |
| 1958 | 66 years and 8 months |
| 1959 | 66 years and 10 months |
| 1960 | 67 years |
Important note: – Individuals who are born on the 1st of January of any year will fall under the age requirement of the previous year.
Claiming Social Security Benefits before the declared FRA
If you want your social security benefits earlier than the required FRA, you can get that, but keep in mind that the benefit will be reduced. The deduction depends on how early you are claiming the benefits from your required FRA. The minimum age at which you can avail the benefits of Social Security is 62 years.
For instance, if you are 62 in 2025 and you want to claim the benefit, the deduction will be around 30% of your Social Security benefits. If you want to claim the full amount, then you have to wait till you are 67 years old.
Some experts believe that individuals should claim their social security benefits as early as 62 and then invest the money in something that can give them a better return. Though the mount will be much lower than what they would get in FRA, like if they invest in the stock market the average return is around 10%, making up the loss.
There are individuals who retire early because of medical and health issues. For them, Social Security Disability benefits are the best program. As the benefit amount does not get reduced before the FRA.
Claiming Social Security Benefits After the declared FRA
If one wants to take their Social Security amount after the FRA, like taking after a full year, the amount will increase by 8%. It will be until the age of 70. But if you are considering this scheme, you should make sure you have sufficient income and assets to cover your expenses after you retire.
And if you keep working after your FRA, each year you work an extra year will be added to your Social Security benefits. As said by the SSA, higher lifetime earnings will bring higher benefits after your retirement.
The Reason behind the Update in FRA
If you think the update in the FRA is a random change, you are wrong. It is been estimated that in 2025 around more than 4 million citizens in America will turn 65 and might claim their Social Security Benefits. And the Federal Government has a huge pressure to provide those benefits at this time of inflation and the drop in the economy. Some experts have named this situation as “ Silver Tsunami”, a time period when seniors of a country are looking to retire or have reached the age all at once.
If one looks deeply into the change, it can be said that this change is simply giving the system some extra time to stretch its funds further, more than a response to increasing life expectancy in the people of the country.
Tips for Americans who are reaching the age of retirement
- The first important thing to do is to check your FRA according to your birth year.
- Your planning should be good. Decide way ahead when you want to retire, early or wait for your FRA.
- Check on the latest updates from the federal government on their official sites.
- Always look into your financial condition and health before deciding when to retire.
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