Starting July 2025, the Full Retirement Age (FRA) for Social Security benefits will increase once more. If you were born in 1959, your FRA becomes 66 years and 10 months. Those born in 1960 or later will have an FRA of 67.
While this change doesn’t immediately affect older retirees, it is crucial for financial planning and optimizing benefits.
Why Is FRA Increasing?
This change is part of a decades‑long adjustment initiated by the 1983 Social Security Amendments, gradually raising FRA from 65 to 67. The adjustments account for:
- Longer life expectancies, meaning benefits are paid out for additional years
- Financial pressure on Social Security’s trust funds
- A gradual, less disruptive alternative to immediate benefit cuts.
Who Does It Affect?
| Birth Year | New FRA (July 2025) | Can Claim Early From |
|---|---|---|
| Born in 1959 | 66 years, 10 months | Age 62 |
| Born in 1960 or later | 67 years | Age 62 |
- If you’re born in 1959, full benefits begin in November 2025 at 66 years 10 months.
- Anyone born 1960 onwards has FRA at 67, unchanged from current plans.
What This Means for You
Claiming Early (Age 62)
You can start taking benefits as early as 62, but your monthly amount is permanently reduced—up to 30% less if your FRA is 67.
Claiming at FRA
Receive 100% of your Primary Insurance Amount (PIA) when you wait until FRA.
Delayed Retirement (Up to Age 70)
For each year you wait past FRA, your benefit grows by 8% annually, maxing out at 125.3% at age 70 .
Example: Born in 1959
- Claim at 62 → ~70.8% of full benefit
- Claim at 66y10m → 100% (FRA)
- Claim at 70 → ~125.3% of full benefit
- Delaying gains ≈ 8% per year
Take Action Now
- Check your birth year and FRA on SSA.gov or “My Social Security.
- Run benefit estimates at different claiming ages.
- Plan financial buffers if retiring early—aim for 18–24 months of savings.
- Consider part-time work post-FRA, which can boost your benefit and reduce early-life reductions .
The July 2025 FRA adjustment—66y10m for those born in 1959 and 67 for later cohorts—is subtle but impactful.
Claiming early lowers lifetime benefits; delaying increases them. Stay informed, plan accordingly, and ensure you’re on track to maximize your retirement security.
FAQs
Can I still retire at 62 after July 2025?
Yes, but your monthly benefit will be permanently reduced—up to 30% if FRA is 67.
Why isn’t FRA staying at 65?
Because Americans live longer, the gradual FRA rise helps sustain Social Security without dramatically cutting benefits.
Is delaying benefits worth it?
Yes—waiting until age 70 increases benefit by ~8% per year, adding up to a 25% bonus over FRA.