Is Trump Going to Raise the Retirement Age?

President Donald Trump has not officially endorsed raising the Social Security retirement age, but recent signals suggested the possibility may have been under review. In September 2025, Social Security Commissioner Frank Bisignano said “everything’s being considered” when asked about potentially increasing the full retirement age, only to walk back his statement the next day. The mixed messages left many wondering if changes to the retirement age could eventually become part of broader Social Security reform discussions.

Worried about how these potential shifts could affect your financial future? A financial advisor can help you plan for and respond to possible reforms.

What Is the Retirement Age?

The term “retirement age” typically refers to the age at which an individual becomes eligible to receive full Social Security retirement benefits. For most current workers, full retirement age falls between 66 and 67, depending on year of birth. Individuals born in 1960 or later reach full retirement age at 67. Benefits may be claimed as early as age 62, though monthly payments are permanently reduced for those who file before reaching full retirement age.

Delaying benefits beyond full retirement age increases monthly payments through delayed retirement credits. Claiming at age 70 results in the maximum benefit, providing an increase of up to 32% for individuals with a full retirement age of 66 and up to 24% for those with a full retirement age of 67. Benefits do not continue to grow after age 70, so further delays do not increase payments.

Retirement age is also closely linked to the long-term financial health of the Social Security program. Changes to this benchmark affect both the duration and total amount of benefits paid, which is why proposals to raise the retirement age are frequently discussed as potential measures to improve program solvency.

Campaign Promises vs. Policy Proposals

Trump has clearly stated he will not raise the retirement age or cut Social Security benefits. In a 2023 message, ¹ he told House Republicans, “Under no circumstances should Republicans vote to cut a single penny from Medicare or Social Security,” emphasizing he would not raise the retirement age or reduce benefits. His campaign promises have framed retirement-age changes as politically off-limits, reinforcing his stance that seniors deserve to pay nothing extra for the benefits they’ve already earned.

Despite Trump’s vow, other Republican-aligned groups have floated proposals to shift the retirement age upward. In 2024, the House Republican Study Committee (RSC) ² recommended gradually raising the full retirement age from 67 to 69 for workers turning 62 by 2033. ³ Meanwhile, the Heritage Foundation ⁴ supports even higher retirement age thresholds, linking retirement age increases to longer life expectancy, potentially moving it toward 70. 

According to the Congressional Budget Office, raising the full retirement age from 67 to 69 would lower lifetime Social Security benefits by roughly 5-10% on average, depending on a person’s earnings level. ⁵ The CBO found that people born in the 1970s would see their lifetime benefits fall from 12.7% to 11.6% of lifetime earnings, representing an 8% drop on average, with reductions ranging from about 5% for low earners to 10% for high earners.

Looking Ahead

While proponents say the move can slightly extend Social Security’s solvency, the CBO estimates that it would not delay the projected exhaustion of the combined OASDI trust funds in 2034. ⁶

Despite Trump’s vows to leave the retirement age as is, the issue reignited on Sept. 18, 2025, during an interview with Fox Business. When asked by Maria Bartiromo about a potential increase to the retirement age, Bisignano said: “I think everything’s being considered and will be considered.” ⁷ He then issued a statement on X the following day clarifying that Trump will “always protect Social Security” and that raising the retirement age “is not under consideration at this time by the administration.”

Can Trump Actually Raise the Retirement Age?

Despite campaign rhetoric, Donald Trump does not have unilateral authority to raise the Social Security retirement age. Any such change would require legislation passed by Congress. An increase would also run counter to Trump’s prior public statements opposing benefit reductions and could carry political risk among older voters, a core constituency. These factors make a retirement-age increase unlikely through executive action alone.

While some Republican policy proposals have included raising the retirement age or adjusting benefit formulas as part of broader solvency discussions, Trump has generally avoided publicly endorsing those measures. That said, changes to the retirement age could still arise through independent congressional action, regardless of the president’s stated position.

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Frequently Asked Questions (FAQ)

Bottom Line

Although some Republican policy groups have proposed raising the retirement age to 69 or 70, Trump has publicly rejected such changes. He also lacks the authority to implement an increase without congressional approval. However, statements from the administration in late 2025 indicated a willingness to review long-term Social Security reform options as part of broader fiscal discussions. As debate continues and demographic pressures on the program persist, preparing for potential policy changes remains a prudent planning approach. A financial advisor can help evaluate possible impacts, refine health savings account (HSA) strategies and build flexibility into a comprehensive retirement plan.

Retirement Planning Tips 

• A financial advisor can help you prepare for retirement by building an income plan based on your assets and spending needs. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with vetted financial advisors who serve your area. You can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
• Beyond diversifying across asset classes, consider where you hold different investments. Tax-inefficient assets like bonds or REITs may be better placed in tax-deferred accounts. Meanwhile, equities with long-term growth potential often benefit from placement in taxable accounts. Part of the reason is because capital gains are taxed more favorably. This strategy can improve after-tax returns over time.

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