The Social Security retirement age is set to change in 2025

The Social Security retirement age is set to change in 2025

(NEXSTAR) – Among the changes Social Security recipients will see in 2025 is a higher full retirement age.

The number indicates the age at which employees are entitled to 100 percent of their pension benefit based on their lifetime earnings.

For years, the full retirement age was 65, but that changed when Congress passed a law in 1983 that gradually raised that number to reflect growing expected life expectancy, according to the Social Security Administration.

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The full or “normal” retirement age has steadily increased in recent years by two months for each additional year of birth.

For example, if you were born in 1958, you would reach full retirement age at 66 years and 8 months. However, if you were born in the following year, the retirement age increases to 66 years and 10 months. AARP notes that recipients born between May 2, 1958 and February 28, 1959 will reach full retirement age in 2025. For people born in 1960 and later, the retirement age increases to 67.

Year of birth

Full retirement age

Payout of $1,000 or more benefit when claimed at age 62

1943-1954

66

$750

1955

66 and 2 months

$741

1956

66 and 4 months

$733

1957

66 and 6 months

$725

1958

66 and 8 months

$716

1959

66 and 10 months

$708

1960 and later

67

$700

Employees can choose not to wait until full retirement age and begin receiving benefits at age 62, but at a reduced amount. Anyone who can wait until age 70 to receive benefits will be rewarded with a higher benefit amount.

Other Social Security changes in 2025 include a smaller cost-of-living adjustment from 3.4% to 2.5%; an increase in maximum taxable income from $168,000 to $176,100; and appointment-based services at Social Security offices across the country.

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