The retirement age changed this year: Here's what to know |
The retirement age changed this year: Here’s what to know
(NEXSTAR) – If you’re of a certain age, you may have entered 2026 thinking you were ready to retire. Unfortunately, if you aren’t of an even more specific age, retiring this year could have a big impact on your Social Security benefits.
While you can technically retire whenever you like, retirement benefits from the Social Security Administration can’t be claimed until you turn 62. However, if you start collecting benefits at 62, well before your “full retirement age,” your payouts could be reduced by 30% (or 35%, if you’re receiving a spouse’s benefit).
Waiting until your full retirement age, or FRA, means your monthly benefits can’t be permanently reduced, according to the SSA. (If you wait even longer, until turning 70, you can even increase your payments.)
Your FRA depends on when you were born. Over the last few years, the FRA has........