Why is retirement age 65

Sarah Ovaska-Few is a North Carolina-based freelance wri ter. Making the right moves now can help you mitigate any surprises heading into Worldwide leaders in public and management accounting. Toggle search Toggle navigation.

Breaking News. How 65 became the default retirement age By Sarah Ovaska-Few. Share Tweet Email Print. Bismarck in via Wikimedia Commons When the U. Save Save. Have a correction or comment about this article? Please contact us.

On Determining the Optimal Retirement Age. Distance to Retirement and Older Workers' Employment. Journal of the European Economic Association, Vol.

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In the s, the SSA saw that changes in the number of people in the workforce and in retirement would require reforms to the plan. Congress has since had to make the occasional adjustment to Social Security withholding taxes and the age of eligibility. Currently, the retirement age for full benefits depends on the year a person was born.