The full retirement age is going up one last time
The last major overhaul of the Social Security program was signed in 1983. Ever since then, there have been 11 increases to the program’s full retirement age. In 2022, we’ll see the 12th and final increase of two months.
The full retirement age will be lifted from 66 years and 10 months for persons born in 1959, to 67 years for anyone born in 1960 or later. If you decide to take your retirement benefit at any point prior to hitting your full retirement age, you accept a permanent reduction to your monthly payout.
On the other hand, if you wait for your FRA to begin, your retirement benefit can lift your monthly payout above 100%.
18 thoughts on “7 Important Changes to Social Security in 2022”
I have been living below the poverty line for several years – receiving enough money to pay a reduced rent, a phone bill, and Con Edison leaving just enough for basic household needs. No movies, dinners out, no memberships in organizations I used to belong to – just a stay-at-home existance with food stamps to get me through the dail challenges. Any increase in Social Security payments would be a most welcome addition to my life.
I have been living below the poverty line for several years. My monthly social security covers a reduced rent (SCRIE), a phone bill, Con Edison, and cable with little left over for basic household necessities – no movies, dinners out, entertaining, membership in organizations I used to be a member of, etc. I receive food stamps which is most necessary. But I have many medical expenses which I am approaching very slowly but steadily depending on what surprise expenses might appear each month. Any increase in my monthly Social Security check would be a most welcome addition to my life.
My husband is 63, I am 79 and started SS ASAP (in my 60’s). Can I draw on my husbands SS? When and how much? I get the minimum now. Thank you.
I truly appreciate the added income but it will only benefit the insurance companies. Every time I get an increase in my monthly payment it is eaten up by the Medicare insurance. I have worked since the age of 16 and I am 80 now and still paying Medicare. Yes I am good with the changes.
Hello Ola
My wife collects on my S.S.
SHE RECEIVES ABOUT half of mine.
Alittle under half 820$$
This really helps the raise we got is eaten up by all the high prices.
I am 70, wife is 63 👍Goodluck
ok how does a person max their benefits?
Delay claiming your benefits until the age of 70.
We need more drastic changes…..higher deductions for higher earners, change FRA to 70 from 67, in order to save Social Security from going broke. It is pathetic that Congress is afraid to move on these important changes. By not doing anything they are willing to take everyone down.
What is the easy trick than could save you as much as $17,166 more…EVERY YEAR?
delay claiming till 70
So I’m guessing you are still working then to right. People don’t want to work their whole life. Besides to me that would hurt companies cause people would be less productive as they get older.
Am I missing it, or has nothing been published about the cost of Medicare going up? I recently received my new statement of benefits for 2022. Medicare went from $148 to $167!! So my so-called raise of 5.9% was totally erased. I am getting the very same each month as I did in 2021. What gives!?!
I AM WONDERING WHAT HAPPEN TO MY SOCIAL SECURITY YEARLY STATEMENT ? ARE THEY STILL BEHIND ? HOW DO YOU FILE FOR SOCIAL SEC FROM YOUR EX – HUSBAND ?
I am disabled does this applies to me
B.S. on your increase, it’s nice to have but dental and vision coverage would help us more than this measly raise. Our congressmen get their benefits for free at a gold standard. Seems like some of them don’t like this government and would rather tear down this social net for US. EVERY raise you gave me in SS you took back with increases in my health coverage and prescription coverage, they seem to agree on doing that with my raise and RTA increases. They should pay their own way and get off our backs.
Walter Lane How can I take advantage of $17166 and maximize benefits.
You state this “The $17,166 Social Security bonus most retirees completely overlook” but there is no link to how or the other handful of other savings
Thx for the COL raise but what a shame we had to get it this way wouldn’t it be better for all citizens if the inflation didn’t happen and the younger people that didn’t get raises or who are working still have to pay the higher prices for everything .. Why can’t our government work on the inflation problem so we all could benefit not just we seniors who get the cost of living increase .. my adult children and their families need help too with our outlandish prices in this country now .. as their pay checks didn’t increase …