Four decades of adjustments have resulted in the full retirement age (FRA) in this country finally stopping its rise (finally, at this rate we weren’t going to make it!). Starting in 2026, the set age for workers to retire and begin receiving benefits from the Social Security Administration (SSA) will be fixed at 67. No increases, no changes (unless they decide to change it in the future) but it will be at 67 the day you can, finally, rest from working.
This change is already the last step of a reform that began in 1983, when it was approved that the retirement age would gradually increase, its main goal at that time was the same as now: to stabilize the SSA’s finances. Forty years later and many disappointments for many Americans, the full retirement age will no longer rise.
What is the full retirement age (FRA)?
The FRA is the age at which you can finally stop working and start receiving the long-awaited retirement pension. Until now, the FRA was at 66 years and 10 months (for those born in 1959) but starting January 1, 2026, it will be 67, extending by a few more months.
Once you turn 67, you’ll be able to request your retirement payments and the two most important things in the world will happen: 1. you’ll stop having to wake up early to go to work and 2. you’ll finally receive your pension!
So… do I have to wait until I’m 67?
If you want to receive 100% of the benefits that are waiting for you, yes, but there is an option where you can request early retirement at 62. Careful, this “advantage” comes with fine print, and that is you will not receive 100% of the income, but rather the monthly amount you receive will be reduced by 30%.
That’s why we always recommend this option for people who have no choice but to stop working, however, if you can afford to hang on those last few years, it’ll be worth it because you’ll receive your full payment.
And what if I don’t want to stop working?
We don’t know who asked that or if anyone ever has, but for those who want to keep working, don’t worry, you have the option to work until you’re 70 and the SSA will reward you for it by increasing the amount you receive each month.
Why was this change made?
Mainly because the Social Security system has always had insolvency issues, it’s nothing new today. For that, it was proposed to gradually increase the retirement age to buy a bit of time and avoid massive cuts that could affect the population.
The fewer people start their payments, the less pressure on the financial system and the more it can be stretched.
Why is it ending now?
From the beginning it was established that the retirement age would be set at 67, once this was reached, it would stop being modified. If we follow the previous years’ schedule, the scheme looks like this:
- 2021: 66 years and 2 months
- 2022: 66 years and 4 months
- 2023: 66 years and 6 months
- 2024: 66 years and 8 months
- 2025: 66 years and 10 months
- 2026: 67 years (maximum established age)
- Will there be more changes?
The debate is on the table, for now they indicate that there won’t be more cuts to retirees’ benefits, but we can’t confirm anything because Trump and his team seem to be in constant conflict with Social Security, and where today they say there won’t be changes… they could again propose a new reform.
So yes, my friend, 67 is the new 65. But don’t worry, there’s already one less day left until our long-awaited golden age!