In 1935, the Full Retirement Age (FRA), was 65. At this age a person became eligible to collect the full
Social Security benefit amount.
Fast forward to recent times and future Social Security recipients are faced with a different reality. For a
person born between 1943 and 1954, the FRA is 66. After 1960 it’s 67. For those born between 1954
and 1960, it’s somewhere in between.
Why the changes? To address rising life expectancy which has drastically changed from an average of
60.7 years to 78.8 years over the last 85 years. Thanks to modern medicine and science, people’s
longevity is increasing more than ever before and the number of years on average that Social Security
recipients receive benefits from this program will too. The most commonly proposed method to handle
these expected shortfalls with Social Security is by continuing to raise the FRA.
Planning for the retirement age now might be tricky for some. Whether taking Social Security at FRA or
accepting reduced benefits for taking it at an earlier age, an experienced Social Security disability
attorney can navigate these decisions and help make the best one depending on the individual’s
situation.