Big changes are coming to retirement in the U.S. If you’ve been planning to retire at 65, it’s time to rethink your strategy. The Social Security Administration has officially announced that starting in 2026, the full retirement age (FRA) will be raised — and this will affect millions of working Americans.
In this guide, we explain exactly what’s changing, who it impacts, how it affects your benefits, and what you can do to prepare.
What’s Changing in 2026?
Beginning in 2026, the full retirement age for Social Security benefits will increase to 67 years for anyone born in 1960 or later. This change means the traditional idea of retiring at 65 — once considered the golden age — is no longer applicable for a large portion of future retirees.
New Retirement Age Breakdown
| Year of Birth | Full Retirement Age (FRA) |
|---|---|
| 1954 or earlier | 66 |
| 1955–1959 | 66 + 2 to 66 + 10 months |
| 1960 or later | 67 |
If you were born in 1960 or after, you’ll need to wait until 67 to receive 100% of your Social Security retirement benefits.
Why Is the Retirement Age Changing?
The full retirement age is increasing to extend the financial life of the Social Security system, which is facing long-term solvency issues. This change was originally legislated under the 1983 Amendments to the Social Security Act, designed to gradually raise the retirement age in response to:
- Longer average life expectancy
- Increased strain on Social Security funds
- The need for sustainable benefits for future generations
How This Affects Your Retirement Plans
Retiring at 65 = Reduced Benefits
If you retire at age 65 in 2026 (when your FRA is now 67), your benefits will be permanently reduced — typically by about 13.3%.
Early Retirement Still Allowed
You can still choose to claim Social Security as early as age 62, but you’ll receive up to 30% less in monthly benefits compared to waiting until your full retirement age.
Delaying = Higher Monthly Payments
If you delay claiming until age 70, you’ll receive delayed retirement credits that increase your monthly check — by as much as 24% more than claiming at 67.
Key Retirement Milestones
| Age | What You Can Do |
|---|---|
| 62 | Earliest age to claim Social Security (reduced) |
| 65 | Eligible for Medicare |
| 67 | Full Retirement Age for those born in 1960+ |
| 70 | Maximum benefit age with delayed credits |
How to Prepare for Retirement After 2026
With the retirement age rising, your best strategy is advanced planning. Here’s how:
- Boost personal savings through IRAs, 401(k)s, or other retirement accounts
- Consider delaying Social Security to maximize lifetime income
- Review your retirement timeline and budget to adjust expectations
- Use tools like the SSA Retirement Estimator to check your personalized benefits
- Will Medicare Change Too?
No — Medicare eligibility remains at age 65, even though Social Security’s FRA is now 67. You can apply for Medicare separately, whether or not you begin claiming retirement benefits.
The era of retiring at 65 is officially ending for many Americans. With the full retirement age set to rise to 67 in 2026, planning ahead has never been more important. Whether you’re years away or nearing retirement, understanding your options can help you make the most of your Social Security benefits.
FAQS
Q1. What is the new full retirement age in 2026?
A: Starting in 2026, the full retirement age (FRA) for Social Security benefits is 67 for people born in 1960 or later.
Q2. Can I still retire at 65 in 2026?
A: Yes, you can retire at 65, but you won’t receive full Social Security benefits. Your monthly check will be permanently reduced by around 13%.
Q3. What is the earliest age I can claim Social Security?
A: You can start claiming as early as age 62, but your benefits will be reduced by up to 30% if your FRA is 67.
