What is the full retirement age for individuals born after 1960?

For individuals born after 1960, the full retirement age is 67. This age represents the point at which individuals can claim full Social Security retirement benefits without any reduction. The Social Security Administration phased in an increase in the full retirement age in response to rising life expectancy and demographic shifts. Specifically, people who were born from 1960 onwards are required to wait until they reach 67 before they can receive their full benefits, ensuring that the system remains sustainable over the long term.

In contrast, those born prior to 1960 have varying full retirement ages based on their birth year, which is why other age options do not apply to those born after 1960. This adjustment reflects the ongoing changes in longevity and the need for future planning regarding social security benefits. Understanding this age threshold is crucial for individuals planning their retirement and for financial planning surrounding Social Security benefits.