Social Security Full Retirement Age to Rise in November for Those Born in 1959

Individuals born in 1959 will soon be eligible to receive full Social Security benefits, but the increase in full retirement age means they must wait until 66 years and 10 months to claim the full amount, a change impacting retirement planning for millions.

The full retirement age (FRA) has been gradually increasing since 1983 to account for increased life expectancies. Previously set at 65, the FRA is now rising by two months per year of birth. Those born in 1958 reached their FRA at 66 years and eight months, and the new threshold applies to anyone born in 1959, qualifying them for full benefits in November 2025. Social Security payments are distributed on the second, third, and fourth Wednesdays of each month, based on date of birth; November payments will be sent out on the 12th, 19th, and 26th.

While individuals can begin claiming benefits as early as age 62, doing so results in a permanent reduction of approximately 30% of the full benefit amount. Delaying benefits can increase the monthly payment; for example, waiting until age 70 can boost benefits by roughly 25%. The Social Security Administration (SSA) estimates that someone earning the taxable maximum throughout their career could receive $4,018 per month at full retirement age in 2025, compared to $2,831 at age 62 and $5,108 at age 70. You can learn more about calculating your potential benefits on the SSA website.

The final increase to the FRA will affect those born in 1960 and later, setting the full retirement age at 67. The Transamerica Center for Retirement Studies recently found that nearly 57% of Baby Boomers anticipate retiring at age 70 or later, or not at all, driven by concerns about outliving their savings and the potential for Social Security changes. The SSA encourages those nearing retirement age to utilize their online retirement planner to estimate benefits and plan accordingly.