If you were borning after 1960 the stick holding the Social Security benefits is getting longer. If you were born after 1960 full SS retirement age will be 67.
This has been the case for quite some time. I’ll save you the math: if you plan on living past 87, you’re money ahead to defer taking SS until you reach your full retirement age. If you think you’ll die before 87, take the money when you turn 62.
It won’t be 67 for the 1960 & youger crowd until 2025 a couple weeks from now. They’ve been stretching the carrot stick 2 months a time. I think they stop next year?
The incremental increase for people caught “on the bubble” between age groups is nothing new. This was signed into law in 1983. These people have known for four decades what their full retirement age is. You’re acting like this is coming out of thin air.
Now if Congress passed a law next year that said anyone born after 2005 has a full retirement age of 69, and prorated people born between 2000 and 2005 from 67 to 69, that would be something new. Actually, that would mirror exactly what happened 41 years ago. But I’ll leave the policy debates to someone else.
???
This is far from new.