For most Social Security beneficiaries, the new COLA goes into effect with their January payment. Young boomers and Gen Xers The increase in the FRA for people born in 1959 marks the penultimate age change, with the final jump occurring for workers born in or after 1960. Those Americans won...
For most Social Security beneficiaries, the new COLA goes into effect with their January payment. Young boomers and Gen Xers The increase in the FRA for people born in 1959 marks the penultimate age change, with the final jump occurring for workers born in or after 1960. Those Americans won...
Yourfull retirement age(FRA) is the age at which you'll collect 100% of your benefit based on your work history. This age varies by birth year, but it's age 67 for everyone born in 1960 or later. Those born before 1960 will have a FRA of either 66 or 66 and a few mo...
This can be a great topic to discuss with a financial professional to decide when to start claiming Social Security and how to make your savings last if you retire before your full retirement age. Claiming prior to full retirement age—which is 67 for those born in 1960 and later—can redu...
1960 and later67 Source: Social Security Administration While the full retirement age used to be 65, changes to the program have increased that age. For example, those born in 1955 now have to wait an extra two months beyond age 66 to claim their full benefit. Someone born in 1959, for...
The full retirement age – the age at which individuals are eligible to claim their full Social Security benefit – rose to 67 this year for those who were born in 1960 (and who will turn 62 this year). From this year forward, the full retirement age will remain 67 for anyone born aft...
If you were born in 1960 and later: 67 When Can I Claim My Social Security Retirement Benefits? You actually don’t have to wait until you reach FRA to collect Social Security benefits. “You can actually claim retirement benefits as early as age 62,” Ramsey wrote. “But if you do cl...
There has never been a case where Social Security benefits were slashed for people already receiving them, and payments have never been delayed. However, to maintain solvency, Congress made major changes in 1983, raising the full retirement age for people born in 1960 or later t...
If you were born in 1960, or later, your full retirement age is 67. When should you start claiming Social Security benefits? There are several important factors to consider as you plan for your retirement and make a decision about when you want to begin receiving Social Security benefits. Pl...
Full retirement age is the age at which you can receive full Social Security retirement benefits. Your FRA varies depending on the year in which you were born.