Originally published on 11Major changes are coming to Social Security in 2026, due to the fact that the full retirement age (FRA) is going to increase for people born in 1960 or later. This is part of a larger 1983 congressional reform, and it’s expected to be the last increase for a while. We break down what you need to know and share how to prepare for the increase, below. 

What to know about the new retirement age 

A person’s FRA is determined by what year they were born in. Currently for anyone born between 1943 and 1959, full retirement age ranges from 66 to 66 and 10 months. But for people born in 1960 or after, that number jumps to 67 beginning in 2026, meaning they won’t be able to claim their Social Security retirement benefits until 2027 at the earliest. 

Since 2021 the FRA has been rising by two months a year, and while 2026 is supposed to be the last planned increase, Social Security Administration (SSA) commissioner Frank Bisignano has hinted at increasing the retirement age several times in the past couple of months.

In September of this year, Bisignano went on the Fox News show Mornings with Maria to discuss all things Social Security. During that conversation, host Maria Bartiromo asked Bisignano if he plans to raise the retirement age to help ensure that Social Security funds continue to be accessible to all Americans. 

Bartiromo then replied, “I think everything’s being considered,” indicating that all options remain on the table to strengthen the program.

“Remember, most people told you [Bartiromo] and me Social Security wasn’t going to be around,” Bisignano, age 66, continued. “And so the generations that are coming in will probably have a different set of rules than we had.”

Following the interview, a spokesperson for the SSA told Newsweek that ‘While he [Bartiromo] did say that ‘everything will be considered,’ it was after a much more insightful conversation regarding solvency and how Commissioner Bisignano is making the Social Security Administration easier to access, faster to respond and better prepared to meet the challenges of tomorrow.”

As of publication, there is no official word on whether Bisignano and the SSA will increase the retirement age; therefore, there is no official start date. However, it was recently reported by the Social Security Board of Trustees that the program’s funds could be significantly decreased by 2033 if substantial changes—such as raising the retirement age—are not made. 

“To ensure we serve the public and deliver high-quality service to the 185 million people who work and pay payroll taxes for Social Security and the 70 million beneficiaries who will receive benefits during 2025, the financial status of the trust funds remains a top priority for the Trump Administration,” Bisignano said in June of this year after the data was released. “Congress, along with the Social Security Administration and others committed to eliminating waste, fraud and abuse, must work together to protect and strengthen the trust funds for the millions of Americans who rely on it – now and in the future – for a secure retirement or in the event of a disability.”

How to prepare for the anticipated retirement age increase 

If you were born in 1960, there are several things you can do to plan for the retirement age increase. This includes not taking out any of your Social Security benefits before you reach your FRA, because according to the SSA, “If you start receiving benefits early, your benefits will be reduced a small percentage for each month before your full retirement age.” 

Also smart: Make sure you have all of your Social Security benefits in order. This can include spousal benefits, widow benefits and, in some cases Supplemental Security Income (SSI), which helps give seniors and people with disabilities a little extra money every month./19/25

Link to original: https://www.womansworld.com/life/money/social-security-retirement-age-what-to-know