Nikki Haley wants to raise Social Security’s full retirement age — what you need to know about the FRA now
Presidential candidate Nikki Haley proposed raising the full retirement age for future Social Security beneficiaries during a town hall meeting in Iowa — a controversial suggestion, given its potential impact on benefits.
Haley didn’t state what age the full retirement age, also known as FRA, should be, or when the government should enact this change. Social Security’s full retirement age hasn’t been changed since 1983, when the law sought to increase the retirement age gradually for individuals from age 65 to 67. Age 65 was the original full retirement age for beneficiaries, set when Social Security was created in 1935.
Haley also suggested limiting benefits for wealthy Americans. “Many of them will tell you they don’t even want it,” she said. The former South Carolina governor said the cost-of-living adjustment should also be tied to inflation, “something Republicans and Democrats agree on,” she said. “We can get that done.”
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