Has the Social Security retirement age increased?

Some American Senators are reportedly working on a proposal to raise the full retirement age for Social Security to 70, as well as other changes to how Social Security benefits are financed. The primary objective of doing this is to prevent the program from becoming insolvent in the next decade, reports Nasdaq.

While you can begin collecting Social Security benefits as early as age 62, your monthly payments will be decreased.

8 in 10 Americans want to maintain or increase funding to Social Security and Medicare.

House Republicans, including Speaker McCarthy have actually voted to raise the retirement age to 70, which would cut Social Security benefits for millions of seniorspic.twitter.com/tGTvLYkJ1W

— Aaron Black (@ABlackPolitical) March 9, 2023

For people born in 1937 or before, the full retirement age used to be 65. The complete retirement age for those born between 1943 and 1954 is 66.

The full retirement age increases by two months each year, rising to 66 and 10 months for those born in 1959 from 66 and eight months for those born in 1958.

Those born in 1960 who turn 62 in 2022 will reach full retirement age at 67.

For those born in 1960 or after, the full retirement age will remain 67.

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