Overview
- Beginning in 2026, people born in 1960 or later will need to reach age 67 to claim full Social Security retirement benefits, according to the report.
- Claiming as early as 62 will carry a larger permanent reduction, with the article citing up to a 30% cut to monthly payments.
- The SSA example shows a $1,000 monthly benefit reduced to about $700 if claimed at 62 instead of waiting to full retirement age.
- Delaying benefits beyond full retirement age can increase monthly checks up to age 70, and continued work may raise benefit calculations.
- The article attributes the shift to program sustainability pressures tied to an aging population and longer life expectancies, as described by SSA-related guidance.