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Lawmakers Could Raise Social Security's Full Retirement Age. Here's What That Might Mean for You
Lawmakers don't want to see those cuts happen, so they've been talking through different solutions to prevent them. And one such solution is to raise Social Security's full retirement age. Currently, that age is 67 for anyone born in 1960 or later. Some lawmakers feel that pushing that age to 69 could help prevent broad Social Security cuts.
For instance, if you retired and filed for Social Security this year at "full retirement age," your maximum benefit would be $4,018, according to the Social Security Administration website.But ...
The full retirement age is currently 67 for those born in 1960 or later, and there is no current plan to increase the FRA. However, future policy changes could change the age.
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Answer: A large-enough retirement account could affect their Medicare premiums for up to 10 years, not just one.
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