Many people think of 65 as retirement age. But for people born in 1960 or later, you'll now have to wait until 67.

In 1983, Congress passed a law that gradually increased the age at which people may receive 100% of their Social Security benefits from 65 to 67, a change that was felt over the following decades as Americans approached their retirement age, according to Bipartisan Policy Cente r. The increase aimed to match increasing life expectancy.

Your full retirement age (FRA) is the age at which you'll collect 100% of your benefit based on your work history. This age varies by birth year, but it's age 67 for everyone born in 1960 or later. Those born before 1960 will have a FRA of either 66 or 66 and a few months.

Wall St. You can claim Social Security starting at age 62, but an early filing will reduce your monthly benefits. If you collect Social Security and work before reaching full retirement age, you’ll be subject to an earnings-test limit.

Millions of Americans will see higher Social Security checks now that the windfall elimination provision (WEP) is abolished.

Millions of beneficiaries can expect enhanced Social Security benefits and new limits to Medicare prescription drug costs in 2025.

Social Security benefits generally increase every year, and that's thanks to the program's annual cost of living adjustment (COLA). The COLA is meant to help retiree benefits keep pace with inflation,

The Social Security Administration (SSA) is set to begin distributing the first round of monthly benefits for the year 2025. Nearly 73 million beneficiaries, including retired workers, survivors, and recipients of Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI),