Goodbye to retirement age of 66 years and 8 months: Here is the new retirement age that will start on Jan. 1, 2026
Americans who are thinking about retiring in 2026 and plan to claim Social Security benefits will want to keep in mind the full retirement age increase.
The new year brings with it a series of changes to Social Security. Every year, the Social Security Administration announces a cost-of-living adjustment (COLA) that is applied beginning for one’s January payment each year.
The increase this year was 2.5 percent, which will also raise the amount contributors must earn for each Social Security credit, also known as a “quarter of coverage,” as well as the wage cap for Social Security taxes. Furthermore, beneficiaries will have to wait a little longer to reach full retirement age.
The webservice for registrations & authentications of all mySSA traffic hit performance degradations that led to inaccurate data being given to customers using mySSA & shut down access to mySSA. This webservice has been in use since 2003. We're working to fix. @SenAmyKlobuchar
— Social Security (@SocialSecurity) April 8, 2025
The new Full Retirement Age taking effect on January 1, 2026
You can start claiming retirement payments from the Social Security Administration (SSA) as early as age 62, but doing so will reduce your benefit amount by 30 percent.
In 2024, workers who turned 66 and eight months, most of whom were born in 1958, reached full retirement age. This means that they will not see any benefits reduced for entering retirement early.
This year, those born in 1959, who turn 66 and ten months, will meet their full retirement age. These rules will only apply to individuals born in January or February 1959.
For anyone born in 1960 or later, the full retirement age is reached at 67 years old. This means that starting January 1, 2026, the full retirement age will remain the same for all workers born after 1960.
The SSA allows Americans to apply for benefits up to 4 months before they plan to receive them. So, if you are thinking about claiming retirement benefits soon, even if still not yet ready to do so, it is recommended that you visit the SSA website on retirement benefits.
How to calculate the Social Security early retirement penalty
The Social Security Administration has a calculation for just how much your monthly Social Security payments will be permanently reduced from the primary insurance amount accumulated over the years you contributed, depending on just how early you retire.
During the first 36 months, if a beneficiary enrolls to receive Social Security before reaching their full retirement age, their primary insurance amount will decrease by 5/9 of 1 percent, which is approximately 0.55 percent for each month. For every additional month beyond the initial 36, the reduction shifts to 5/12 of 1 percent.
Wondering when you will see an increase in your Social Security benefit due to the Social Security Fairness Act? Most beneficiaries will begin receiving their new monthly benefit amount in April for their March benefit. Learn more: https://t.co/2em3Lghxfk
— Social Security (@SocialSecurity) March 31, 2025
For individuals born in 1960 or later, retiring at 62 during their first eligible month for Social Security benefits will leave them 60 months short of their full retirement age. This situation results in a permanent reduction of 30 percent in benefits to account for the extended period they are expected to receive monthly payments.
Get your game on! Whether you’re into NFL touchdowns, NBA buzzer-beaters, world-class soccer goals, or MLB home runs, our app has it all.
Dive into live coverage, expert insights, breaking news, exclusive videos, and more – plus, stay updated on the latest in current affairs and entertainment. Download now for all-access coverage, right at your fingertips – anytime, anywhere.
Complete your personal details to comment
Your opinion will be published with first and last names