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Policy Option Projections

Below are our projections of the effects of various retirement policy proposals on Social Security beneficiaries. For each proposal, we also link to SSA's actuarial projections of the effects on the Social Security trust fund.

Compare all options »

  1. Benefit Formula
    Changes
  2. Cost of Living
    Adjustment Changes
  3. Covered Worker
    Changes
  4. Retirement
    Age Increases
  5. Taxation
    Changes

Retirement Age Increases

Details on the current EEA and FRA »

Proposal Start/End Date(s) Proposed by? Projected Effects on…
Beneficiaries in… Trust Fundsa
Increase the EEA from 62 and the FRA from 67
At a rate of 1 month every 2 years starting in 2017 (EEA) and 2023 (FRA) 2017/NA SSAB 2030 |  2050 |  2070 OACT C2.2
Increase the FRA from 67
At a rate of 1 month every 2 years starting in 2023 2023/NA SSAB 2030 |  2050 |  2070 OACT C1.3
To 68, at a rate of 1 month every 2 years 2023/2049 SSAB 2030 |  2050 |  2070 OACT C1.1

NOTE: EEA = early eligibility age, FRA = full retirement age, OACT = Office of the Chief Actuary, SSAB = Social Security Advisory Board.

a. Because the timing of OACT updates to Trust Fund projections may not coincide with the timing of our updates, the specifications used to make these projections (e.g., years and amounts) may differ.