Social Security retirement age expected to change in 2025

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

This figure marks the age at which workers become eligible to claim 100 percent of their retirement benefit based on lifetime earnings.

For years, the full retirement age was 65, but that changed with a law passed by Congress in 1983 to gradually raise that number to accommodate increasing life expectancy, according to the Social Security Administration.

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

If you were born in 1958, for example, you will reach full retirement age at 66 years and 8 months, but if you were born the following year, that retirement age will rise to 66 years and 10 months . Beneficiaries born between May 2, 1958 and February 28, 1959 will all reach full retirement age in 2025, AARP points out. For those born in 1960 and later, the retirement age will increase to 67.

Workers can choose not to wait until full retirement age and start receiving benefits at age 62, but at a reduced amount. Those who can wait until age 70 to start collecting benefits are rewarded with a higher benefit amount.

Other Social Security changes coming in 2025 include a lower cost-of-living adjustment to 2.5%, down from 3.4%; an increase in maximum taxable income from $168,000 to $176,100; and services by appointment at Social Security offices nationwide.

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