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The retirement age is set to increase in the US in 2025: How to factor these changes into your retirement plan
The retirement age will increase in 2025. All you need to know about who is impacted and when they can claim their full benefits.
For decades, the retirement age at which workers become eligible for full Social Security benefits stood at 66. However, in the early 1980s, Congress increased the Full Retirement Age (FRA) to 67. Those affected by this change are only now beginning to retire, and thanks to the staggered approach their retirement is only delayed by a few months, with each birth year after 1954 adding two months until the FRA reaches 67 for those born in 1960 or later.
This means that individuals born in 1959 who want to retire with full benefits next year will need to wait 10 months after their 66th birthday to claim the full value of their retirement benefits. This could push the retirement date for some into 2026, similar to how those born in 1958 will have to wait until 2025.
Who can retire in January 2025?
Starting in January 2025, those born after June 1958 will be eligible to retire with full benefits. Figuring out the month at which you will be able to earn your FRA is critical to maximizing your retirement benefits.
Here is the full list of retirement months based on the birthday month and year of the work for 2025 and 2026:
| Retirement Month | Birth Month/Year |
|---|---|
| January 2025 | June 1958 |
| February 2025 | July 1958 |
| March 2025 | August 1958 |
| May 2025 | September 1958 |
| June 2025 | October 1958 |
| July 2025/August 2025 | November 1958 |
| September 2025 | December 1958 |
| October 2025 | January 1959 |
| November 2025 | February 1959 |
| December 2025 | March 1959 |
| January 2026 | April 1959 |
| February 2026 | May 1959 |
| March 2026 | June 1959 |
| April 2026 | July 1959 |
| May 2026 | August 1959 |
| June 2026 | September 1959 |
| July 2026 | October 1959 |
| August 2026 | November 1959 |
| September 2026 | December 1959 |
For those born in 1958 and 1959 the amount their Social Security check will reduce by amounts to 28.33% and 29.17%, respectively, if they retire at 66 and not their FRA.
What are Delayed Retirement Credits?
Delayed Retirement Credits (DRCs) are offered to workers that remain in the workforce past their FRA. However, once a worker turns 70 these credits max out cannot continue to be accumulated to boost the value of one’s Social Security benefits. For a worker born in 1959, their benefit amount would increase to 125.3 percent of their FRA if they retire at 70. For example, if your Social Security benefit is worth $2000 ($24,000/year) at your FRA, you would see your payment increase by around $250 a month ($3,000/year).
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