Why the Social Security retirement age is really 70

One of the most frequent questions people have about Social Security is when they should begin drawing their monthly benefits. While it’s widely believed that the Social Security retirement age is 66 or 67, one recent study suggests it’s actually age 70.

Fidelity & Guaranty Life (FGL) has teamed with the Center for Retirement Research (CRR) at Boston College to produce a five-minute video titled, “Social Security’s Real Retirement Age is 70.” The video features Alicia Munnell, director of the CRR, and Brian Grigg, vice president of annuity distribution for FGL.

In addition to the video, you can download a research brief written by Munnell. Key findings of her report are:

  • Due to increases in the Delayed Retirement Credit, the effective Social Security retirement age is now 70, with monthly benefits reduced for earlier claiming.
  • Benefit levels at 70 appear appropriate given that rising deductions for Medicare and greater benefit taxation have reduced Social Security’s net replacement rates.
  • The shift to a Social Security retirement age of 70 should be feasible for many workers given increases in lifespans, health, and education.

CreativeOne offers additional Social Security resources at its Social Security Suite. Talk to your CreativeOne sales consultant today about how the Social Security Suite can help you become a valuable resource on Social Security. Call 800.992.2642 to find out more, and read from one of our top sales consultants how to use the Social Security Suite in your business.


This information is provided for informational and educational purposes only and is not sponsored or endorsed by any governmental agency. Agents may not give tax, legal, accounting or investment advice. Some materials and programs are exclusive offers through CreativeOne’s Dynamic Marketing Portal to third-party vendors and are only available to agents who are contracted with CreativeOne.  CreativeOne is not responsible for the results of the programs or any liability stemming from the use of them. 

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