Seniors should be aware the Social Security Administration (SSA) has increased the Full Retirement Age (FRA) for 2022 and announced it won’t change anymore.
For people born in 1960 (and those who turn 62 this year) and afterward, the FRA will be 67 starting now. It won’t change again unless Congress decides to make the change.
The last time Congress acted was in 1983 when it passed legislation to shore up Social Security’s finances. Workers still can begin collecting Social Security benefits when they reach age 62, but if that’s not their FRA, they will receive reduced payments.
The age change will affect approximately 70 million Americans, including Social Security (SS) recipients, disabled veterans, and federal retirees. It’s estimated half of seniors live in households for which SS benefits represent half their income. About 25 percent rely on SS for virtually all their income.
Council of Seniors Works to Strengthen Benefits
Extra retirement income means a lot when inflation is high. That’s why Council of Seniors strongly believes Congress must pass The SAVE Benefits Act. We need this bill to make up for inadequate Social Security cost-of-living adjustments (COLAs) paid in several past years. If we succeed, seniors will be reimbursed $581.
Take time now to sign our petition! Washington politicians must hear our voices loud and clear.
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