Statements from figures associated with the Trump administration often attract public attention, especially when they address far-reaching federal programs, such as the retirement. Social Security, by its very nature, is a sensitive issue for millions of people who depend on these monthly payments.
The recent situation arose from a statement made by Frank Bisignano, the current Social Security Commissioner, appointed during Donald Trump’s administration. During a media interaction, he was directly asked about the possibility of raising the Full Retirement Age (FRA). His response was brief: “Everything is being considered.”
Millions of Americans Are Worried About Their Retirement Age
This phrase, later reported in various news outlets, was interpreted by some senior citizens as an indication of potential delays in accessing retirement benefits. Media coverage of these words spread rapidly, and with it, inquiries and concerns among retirees increased.
The day after his remarks were made public, Bisignano issued a statement to clarify the interpretations that had arisen. In it, he affirmed that both he and Donald Trump “would always protect Social Security” and clarified that raising the retirement age was not under consideration. Despite this subsequent clarification, the initial comment had already had repercussions in various sectors.
They Talked About Increasing Retirement Age: Then Backtracked
The response from some lawmakers was swift. A group of senators, led by Elizabeth Warren along with ten other signatories, sent a letter expressing their position. In the document, the lawmakers stated that the remarks had left millions of Americans “alarmed and confused” regarding their future benefits.
The letter also included warnings about the consequences of changing the retirement age. According to the signatories, raising the full retirement age to 69 would, in practical terms, mean a considerable reduction in the total amount workers would receive in retirement. They estimated that some beneficiaries could lose tens of thousands of dollars over their lifetime.
Furthermore, the letter raised concerns about the effectiveness of such a measure. The legislators argued that even an increase in the retirement age would not resolve the long-term funding shortfall facing the system. Current projections indicate that trust funds could be depleted by the middle of the next decade, around 2035. From this perspective, delaying the retirement age would reduce retirees’ income without addressing the underlying cause of the fiscal problem.
What the President Has Said About the Retirement Age
The attention given to these recent comments gains greater context when reviewing positions publicly held by Donald Trump in previous years. During his time as a candidate and later as president, he referred on numerous occasions to Social Security, stating his intention not to reduce benefits or change the retirement age.
An example of this occurred in 2023, when he addressed Republican lawmakers in the House of Representatives. On that occasion, he told them that “under no circumstances” should they support cuts to Medicare or Social Security. For some retirees, these kinds of statements provided a degree of reassurance about the program’s continuation.
However, different proposals have circulated across the broader political spectrum. Some conservative groups have promoted the idea of gradually raising the retirement age from 67 to 69. Organizations such as The Heritage Foundation have argued that increased life expectancy justifies a delay in the retirement age, and in some cases, the possibility of reaching 70 in the long term has been mentioned.
What Happens if the Retirement Age Is Raised in the US?
When discussing a possible increase in the full retirement age, the reference is to the point at which a person can receive their full calculated pension benefit: this is known as the FRA. Currently, for those born after 1960, the FRA is 67. An increase to 69 would mean postponing access to the full pension benefit by two years.
The practical consequences of this change would be varied. Someone planning to retire at age 67 who relies on these monthly payments would face two options: continue working for longer or accept a reduced income during that period. Even if current retirees were unaffected by the change, those nearing retirement would need to adjust their calculations and expectations.
Those who oppose this measure have quantified the impact in monetary terms. For a worker with an average income, delaying full retirement age until 69 could translate into a cumulative loss of tens of thousands of dollars over their retirement. Using a monthly benefit of approximately $1,500 at age 67 as a reference, the delay would, in practice, mean forgoing hundreds of dollars per month after age adjustments are applied.
