A Big Change to Retirement is Coming Next Year
If you plan to retire next year, there’s something you need to know. Starting in 2026, full retirement age will be 67 years old — that’s the age you will need to be to receive full Social Security retirement benefits.
According to the Independent, President Franklin D. Roosevelt signed the Social Security Act into law in 1935 to provide workers aged 65 and older with a steady income in retirement. The retirement age gradually started increasing after an amendment in 1983 changed the law. Now, for the first time in 90 years, the full retirement age will be 67.
This does not mean you need to continue working until you’re 67. You can take early retirement as young as 62 years old, but your benefits will be reduced.
The Seniors Trust is committed to improving the financial well-being of older Americans through the passage of the Social Security Expansion Act. It will give retirees an immediate benefits increase of about $200 a month, a fair annual cost-of-living adjustment (COLA), increased minimum benefits, and ensure the long-term solvency of the Social Security program.
