AARP Has a Blunt Warning for Working Americans Counting on Social Security

When you think about retirement, you might picture the day your mortgage is finally paid off, or the morning you no longer have to set an alarm for work. You've probably spent years looking forward to those moments, with Social Security playing a big part in your retirement plan.

But AARP is warning that a proposal to raise the full retirement age from 67 to 70 could make those plans harder to afford. Nothing has changed yet, but the financial consequences could be much bigger than you'd expect, especially if you're hoping to leave work in the next few years.

The warning behind AARP's opposition to age 70

AARP strongly opposes raising Social Security's full retirement age to 70, arguing that Americans have spent their working lives paying into the program and shouldn't have to wait even longer to collect their full benefits.

The group points to the 1983 Social Security reforms, which gradually raised the full retirement age from 65 to 67. Those changes, along with other reforms, reduced benefits by an estimated 19%.

With another increase now being discussed, AARP's Bill Sweeney is warning against asking future retirees to accept smaller checks to help fix Social Security's finances.

How raising the retirement age to 70 could reduce your benefit

Under today's rules, your full retirement age is 67 if you were born in 1960 or later, although you can start collecting Social Security as early as 62. Claiming five years early reduces your monthly benefit by 30%, so if you're entitled to $2,000 at 67, you'd receive $1,400 at 62.

If the full retirement age increased to 70 while the earliest claiming age stayed at 62, you'd be claiming eight years early instead of five. Under Social Security's current reduction formula, your benefit would fall by about 45%, leaving you with roughly $1,100 a month.

Compared with today's rules, that's a loss of $300 a month, or $3,600 a year, and you'd receive roughly 21% less. Future cost-of-living adjustments would also be calculated on that smaller benefit, so the difference would follow you throughout retirement.

Why waiting until 70 wouldn't make up for the benefit cut

Waiting until 70 might seem like a way to avoid losing benefits, but you'd still receive less than under today's rules. Right now, delaying Social Security until 70 gives you a bigger monthly check, while raising the full retirement age to 70 would mean waiting that long just to collect your full benefit.

The Center on Budget and Policy Priorities estimates that raising the age from 67 to 70 would reduce monthly benefits by nearly 20% at any given claiming age.

You could still claim Social Security at 62, but the larger reduction would be especially difficult if your health or job made working longer unrealistic.

Younger workers could face the biggest Social Security cuts

If Congress decides to raise the full retirement age, younger workers would likely be affected the most. That's because such a change would probably happen gradually, giving people closer to retirement some protection while younger Americans face more of the increase.

The Congressional Budget Office (CBO) examined one option that would gradually raise the full retirement age to 70 for anyone born in 1981 or later. Under that scenario, workers claiming Social Security at 65 would receive:

• Born in the 1960s: About 3% less.
• Born in the 1970s: About 13% less.
• Born in the 1980s: About 19% less.

A worker in their early 60s might see only a small change under this approach, while someone in their 40s could eventually face the full increase to age 70.

Younger workers would have more time to adjust their retirement plans, but they'd also need to prepare for the possibility of receiving less Social Security than they're currently expecting.

Why working longer isn't always an option for retirees

Not everyone gets to retire on their own terms. Health problems or unexpected layoffs can bring working life to an end years earlier than planned, leaving some Americans with little choice but to claim Social Security early.

According to the SSA, about 62% of people who started collecting retirement benefits in 2025 claimed early. And in a 2026 survey, 41% of those who retired earlier than planned said health problems or a disability were the reason.

Without enough savings to cover expenses, putting off Social Security may simply be unaffordable. If half your retirement income comes from Social Security, a 20% benefit cut would reduce your total income by about 10%. And if you're living on just Social Security, you'd face the full reduction.

How to plan for Social Security benefits that could change

You can start by checking your estimated benefits under today's rules through your my Social Security account at SSA.gov. Then consider how your budget would hold up with a smaller check.

If you're expecting $2,000 a month, for example, see whether you could cover your expenses with $1,600. Building some extra savings could also help you avoid claiming benefits earlier than planned if you have to stop working.

With Social Security's retirement trust fund projected to run short of reserves in 2032, changes to the program remain possible. For now, giving yourself some flexibility can help you prepare without making major decisions based on proposals that haven't yet become law.

Bottom line

You may have a retirement date circled on your calendar, and there's no reason to cross it out just yet. Raising the full retirement age to 70 isn't law, but AARP's warning is a reminder that the Social Security check you're counting on could look different by the time you retire.

While you've still got time on your side, think about how you'd manage with a smaller benefit and look for ways to save money in retirement. Putting a little more aside now could give you more freedom to call it a career when you're ready, regardless of what Congress decides.

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