Starting in 2026, the Social Security Administration (SSA) will finalize a major change in retirement policy. The new full retirement age (FRA) is set at 67, marking the official end of a process that began back in 1983. Who does this affect? Virtually every future retiree in the United States looking to maximize their Social Security benefits.
For years, retirement ages in this country have steadily inched upward. The goal has always been to stabilize the SSA’s finances by reducing the total number of individuals receiving full benefits at once. Now, after reaching 66 years and 10 months for those born in 1959, the next—and supposedly final—target of 67 will take effect on January 1, 2026.
No more incremental rises are currently planned, although policies can always shift under future administrations.
A closer look at how your full retirement age shifts to 67 by 2026
The FRA is the age at which retirees can claim 100% of their monthly benefits. Beginning in 2026, anyone turning 67 can request their payments without any benefit reduction. Here is a brief timeline comparing the most recent changes:
| Year | Full Retirement Age |
|---|---|
| 2021 | 66 years, 2 months |
| 2022 | 66 years, 4 months |
| 2023 | 66 years, 6 months |
| 2024 | 66 years, 8 months |
| 2025 | 66 years, 10 months |
| 2026 | 67 years |
These adjustments aim to lessen the financial strain on the system by encouraging workers to stay on the job a bit longer.
Key benefits and drawbacks of considering early retirement starting at age 62
If you cannot or simply do not want to wait until 67, you could opt to begin receiving Social Security at 62. However, there’s a catch: your monthly checks will be about 30% lower than if you had waited. Is it worth it? It might be for those who need the income sooner, but many advisors suggest holding off if your finances allow. This wait means larger monthly payments once you cross that FRA threshold.
Will future reforms alter this final step in Social Security regulations?
Right now, the official word is that 67 is where the increase stops. Still, questions remain about possible policy updates in the coming years, especially given prior debates on entitlement reform. Many pensioners hope that no new changes will affect the benefits they have worked so hard to earn. Yet some policymakers are already hinting that no plan is ever set in stone.
If you’re approaching retirement, take note of your birth year to determine your exact FRA and consider the pros and cons of starting benefits early. Ultimately, the decision comes down to personal circumstances—just remember that every additional month you wait can lead to higher monthly payments later.