If you were born in 1960 or later, your full retirement age is 67.
That number has been quietly climbing for years, and it's one of the most expensive details many Americans never bother to check until they're already filing paperwork.
Full retirement age, or FRA, is the age at which you qualify for 100% of your Social Security benefit.
Congress raised it in 1983, phasing in higher thresholds for younger workers.
Anyone born in 1959 hits 66 and 10 months.
Anyone born in 1960 or later lands at a flat 67.
Filing at 62 permanently reduces your monthly check by up to 30% compared to waiting until 67.
Claim at 70 instead, and you get delayed retirement credits that boost your benefit by roughly 24% above your full amount.
On a $1,800 monthly benefit at 67, that's a difference of hundreds of dollars every month for the rest of your life.
Roughly 9 in 10 workers file before their full retirement age, often because they're laid off, dealing with health issues, or simply need the cash.
But for anyone with a choice, the math strongly favors waiting if you can afford it and expect to live into your 80s.
The tricky part is that FRA isn't just about retirement benefits.
It also affects spousal benefits, survivor benefits, and how much you can earn while working without a penalty.
In 2024, if you're below FRA all year, the earnings test withholds $1 for every $2 you earn above $22,320.
In the year you reach FRA, the limit jumps and the penalty softens to $1 for every $3.
Meanwhile, talk of raising the retirement age further keeps surfacing in Washington.
Some proposals floating around suggest pushing FRA to 68 or 69 for younger workers as a way to shore up the trust fund.
Nothing has passed, and any change would likely take years to phase in, but the direction of travel has been one-way for four decades.
First, pull your Social Security statement at ssa.gov and confirm your FRA based on your birth year — don't guess.
Second, run the break-even math: claiming early usually pays off only if you don't live past your late 70s.
Third, if you're married, coordinate with your spouse, since the higher earner delaying can protect the survivor benefit.
The retirement age most people picture in their heads — 65 — stopped being true for anyone born after 1937.
If you don't know your actual FRA, you're planning around a number that doesn't apply to you.
Final Thoughts
Social Security is one of the few retirement decisions you can't undo once you file, and a small delay now can mean tens of thousands of extra dollars over a 20-year retirement.