Social Security’s full retirement age fully hits 67 in 2027 — here’s what it means for your check
In 2027, the people born in 1960 turn 67 — and they’re the first cohort to reach a fully phased-in full retirement age of 67, the highest it has ever been. It’s the end of a slow, 40-year climb that began with the 1983 reforms, and it quietly reshapes the most important money decision most retirees make: when to claim. With an FRA of 67, claiming at 62 now costs a permanent 30% cut, and waiting to 70 earns a 24% raise — both bigger swings than earlier generations faced. Here’s what the milestone actually changes, why a federal pension gives you an edge, and a calculator that shows exactly what your check is at every claiming age.
1. The end of a 40-year climb
The full retirement age didn’t jump to 67 overnight. The 1983 Social Security amendments set a gradual increase from 65 to 67, phased in two months at a time across birth years. Those born in 1955 had an FRA of 66 and 2 months; 1959, 66 and 10 months; and everyone born in 1960 or later, a flat 67. Because people born in 1960 turn 67 in 2027, they’re the first group to actually arrive at the fully phased-in age. From here on, 67 is simply the number — there is no higher full retirement age under current law.
2. What full retirement age actually is
Your full retirement age is the age at which you receive 100% of your earned benefit — your primary insurance amount. Claim before it and your monthly check is permanently reduced. Claim after it and your check permanently grows. You can still start as early as 62 or as late as 70; FRA is simply the pivot point around which every other age is priced.
3. The 62 penalty is now steeper
Here’s where FRA 67 bites. The earlier you claim before 67, the bigger the permanent reduction:
When the full retirement age was 65, claiming at 62 cost a 20% reduction. Now, with FRA at 67, claiming at 62 costs a 30% reduction — and it’s permanent. A benefit worth $2,000 at 67 pays about $1,400 at 62, for life. The reduction never reverses when you later reach 67. That doesn’t make 62 wrong — but it makes it a bigger, more expensive decision than it was for your parents.
4. The reward for waiting
The flip side is just as powerful. Every month you delay past your full retirement age earns delayed retirement credits worth 8% per year, up to age 70.
There’s no reason to wait beyond 70 — credits stop accruing. But for someone in good health expecting a long retirement, delaying from 62 to 70 nearly doubles the monthly check ($1,400 versus $2,480 on that $2,000 full benefit), and every future cost-of-living adjustment is calculated on the larger amount.
5. It’s a benefit cut in disguise
Worth saying plainly: raising the full retirement age is a benefit cut, just a politically quiet one. Nobody’s full benefit was reduced — instead, the age to collect it was pushed back. Someone who always intended to claim at 62 now gets 70% of their full benefit where an identical worker a generation ago got 80%. It’s the same lever policymakers reach for when the trust fund is under pressure — which is why proposals to raise the FRA past 67 resurface whenever Social Security’s finances are debated.
6. Your benefit at every claiming age
Enter your full (FRA) monthly benefit — the figure on your Social Security statement at 67. The calculator shows what you’d receive at 62, at 67, and at 70.
Your benefit
Find this on your statement at ssa.gov — it’s your benefit at full retirement age (67).
Amounts are before cost-of-living adjustments and taxes, and assume a full retirement age of 67. Waiting past 70 adds nothing. This is an estimate for planning, not advice.
7. The federal retiree’s advantage
The hardest part of delaying Social Security is living without it in the meantime — and that’s exactly where federal retirees have an edge. A FERS pension (and your TSP) can cover your expenses in your 60s, letting you postpone Social Security to capture that 8%-a-year growth without going income-less. One wrinkle to know: if you retire before 62 and receive the FERS annuity supplement, that supplement ends at 62 no matter what — a natural moment to decide whether to claim then or keep bridging with your pension and TSP to a larger check later.
8. How to choose your age
There’s no single right answer, but the factors that should drive it:
- Health and family longevity. Expect a long life? Delaying usually wins. Serious health concerns can favor claiming earlier.
- Whether you’re still working. Before FRA, the earnings test can temporarily withhold benefits if you earn above the annual limit.
- Your other income. A pension and TSP that cover expenses make delaying painless; needing the cash favors claiming sooner.
- Taxes and your spouse. Your claiming age affects survivor benefits and how much of your Social Security is taxed.
Run your own numbers above, then dig into the trade-offs in when to claim Social Security.
9. Frequently asked questions
What is the full retirement age in 2027?
For everyone born in 1960 or later, the Social Security full retirement age is 67 — the highest it has ever been. People born in 1960 turn 67 in 2027, making them the first cohort to reach the fully phased-in age of 67. This completes a gradual increase that began with the 1983 Social Security amendments, which slowly raised the full retirement age from 65 to 67 over more than four decades. There is no full retirement age higher than 67 under current law.
How much is Social Security reduced if I claim at 62 with an FRA of 67?
Claiming at 62 with a full retirement age of 67 permanently reduces your benefit to about 70% of your full amount — roughly a 30% cut for life. The reduction is 5/9 of 1% per month for the first 36 months before your full retirement age, plus 5/12 of 1% for each additional month. With 60 months of early claiming (from 67 down to 62), that works out to the full 30% reduction. The reduction is permanent: it does not reverse when you later reach your full retirement age.
How much more do I get if I wait until 70?
Waiting past your full retirement age earns delayed retirement credits of 8% per year, up to age 70. With a full retirement age of 67, waiting the full three years to 70 increases your benefit to 124% of your full amount — a 24% raise for life, on top of any cost-of-living adjustments. There is no benefit to waiting beyond 70, since delayed retirement credits stop accruing at that point. For someone in good health expecting a long retirement, delaying is often the single most valuable Social Security decision available.
Does a higher full retirement age mean I get less money?
Effectively, yes, if you claim at the same age. Raising the full retirement age is a benefit cut spread across everyone: because 67 is now the baseline, claiming at 62 costs you a 30% reduction rather than the 20% it cost when the full retirement age was 65. Someone who always planned to claim at 62 receives a smaller share of their full benefit than earlier generations did at the same age. It doesn’t change your full benefit amount, but it raises the age at which you can collect that full amount.
As a federal retiree, when should I claim Social Security?
There’s no universal answer, but federal retirees often have an advantage: a FERS pension can bridge the gap, letting you delay Social Security to grow the benefit without going without income. If you retire before 62 with the FERS annuity supplement, that supplement ends at 62 regardless, which is a natural decision point. Weigh your health and family longevity, whether you’re still working (the earnings test can reduce benefits before full retirement age), and how delaying interacts with taxes and your TSP withdrawals. The calculator on this page shows exactly what each claiming age pays.