Significant changes to the retirement age for Social Security benefits will begin in 2025, impacting millions of seniors in America.

This change is crucial for those close to retirement, as it determines how and when they can access their full benefits. Seniors can claim benefits as early as age 62, but this results in lower monthly payments, making it important to understand the new retirement age for better decision-making.

Starting in 2025, the full retirement age will remain at 66 for those born between 1943 and 1954. For those born after 1954, this age will gradually increase. For instance, individuals born in 1955 will have a full retirement age of 66 years and two months, extending to 67 years for those born in 1960 and beyond. Those born in the latter half of 1957 and early 1958 are particularly affected, as they reach their full retirement age in 2024.

As the retirement age shifts, seniors should carefully consider their filing decisions, as this will affect their monthly benefit amounts. Staying informed about these changes is essential for planning a comfortable retirement.