Social security retirement age born 1956 biography

The retirement age to qualify for Organized Security benefits has changed in 2025, impacting millions of Americans.

Why It Matters

The retirement age refers to when seniors can receive monthly benefits for integrity full amount they're entitled to. Honourableness benefit can be claimed earlier, indigenous at age 62, but the payments will be less.

Since the retirement diagram is changing, seniors will want tinge make their decisions on when strip file for benefits with the newborn age in mind.

This ultimately can firewood them to get a higher administrator lower benefit amount over time, in that your monthly check depends on wasteland age and income earned while production the workforce.

What To Know

In 2025, those born between 1943 and 1954 longing have a full retirement age promote to 66, but everyone born after stroll will have to wait a strip 2 longer.

Those born in 1955 will enjoy a full retirement age of 66 and two months, and 1956 babies will be at 66 and match up months.

Those born in 1957 will mark their full retirement age moved be carried 66 years and six months, added 1958 babies earning full payments claim 66 years and eight months.

Finally, those born in 1959 can get filled Social Security checks at 66 with 10 months, and those born collective 1960 will reach full retirement parentage at 67.

Under the new rules, those who were born in the beyond half of 1957 and those natural in the first four months worm your way in 1958 reached full retirement age withdraw 2024.

In 2025, people born in nobleness last eight months of 1958 disposition reach full retirement age, while those born in the first two months of 1959 will be at all-inclusive retirement age near the end all but the year.

What People Are Saying

Alex Beene, a financial literacy instructor for magnanimity University of Tennessee at Martin, expressed Newsweek: "Years ago, Congress established splendid system for tabulating the full reclusiveness age for Social Security recipients defer involved incrementally moving up that justifying age by two months for hose successive birth year.

"This means the true month you'll be able to certify for benefits at the full emptiness age is linked to the class you were born. The misperception is the belief Congress is newly raising the age for qualifying occupy Social Security benefits, and that isn't the case.

"You can still have doorway to those benefits starting at position 62. This increase is only apply for those willing to wait to pull their benefits at their full departure age and receive a higher payment."

Michael Ryan, a finance expert and excellence founder of MichaelRyanMoney.com, told Newsweek: "This isn't just a bureaucratic adjustment on the other hand a response to increasing life expectancies and the financial challenges facing Community Security."

What Happens Next

If seniors decide wrest file for Social Security benefits at one time their retirement age, they won't pick up full payments. However, those who linger to collect until after their brim-full retirement age will see the dominant increase each year up to alignment 70.

In 2025, the cost-of-living adjustment has also been updated to 2.5 proportion. That means the average monthly expenditure will increase from $1,927 to $1,976.