The full retirement age for Social Security benefits has increased to 67 for Americans born in 1960, completing a transition that has been phasing in over more than two decades.

Individuals born in 1960 who turn 66 in 2026 will need to wait an additional year beyond their 66th birthday to receive their full Social Security retirement benefits without reduction. Those who choose to claim benefits at age 66 will receive a permanently reduced monthly payment.

The change represents the final step in a gradual increase that began affecting those born in 1938. For decades, the full retirement age had been 65, but reforms enacted in 1983 gradually raised the age to address the program's long-term financial sustainability.

People born between 1943 and 1954 had a full retirement age of 66, while those born from 1955 to 1959 saw their full retirement age increase by two months each year. The full retirement age of 67 now applies to all individuals born in 1960 and later.

Workers can still claim Social Security benefits as early as age 62, but doing so results in permanently reduced monthly payments. Conversely, delaying benefits beyond full retirement age until age 70 results in increased monthly payments through delayed retirement credits.

The Social Security Administration advises workers to carefully consider their financial situation and health status when deciding when to claim benefits, as the timing decision affects lifetime benefit amounts.