India, Nov. 19 -- Starting in 2026, workers born in 1960 or later will need to wait until age 67 to claim full Social Security retirement benefits.

This change impacts the decades-long phase-in of the 19193 amendments to the Social Security Act. According to CBS News, this effectively reduces lifetime benefits for younger cohorts, who may have longer working years.

For anyone born in 1960 or after, age 67 becomes the new full retirement age (FRA). If you claim benefits as early as age 62, your monthly payout could be permanently reduced by up to 30%.

This means someone planning to retire at age 62 in 2026 might receive significantly less than someone who waits until age 67. CBS News emphasises that early retirement will now carry a hig...