Key Points
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You’ll no longer face the early claiming penalty if you apply for checks at your FRA.
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You could see a one-time benefit boost at your FRA if you previously lost money to the earnings test.
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You’ll gain the option to suspend your benefits to grow your checks by up to 24%.
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After a long time of waiting, you’ve nearly reached your full retirement age (FRA) of 67, which you expect to hit in 2027. That’s a big milestone, whether you’re already receiving Social Security checks or you haven’t signed up yet.
Reaching your FRA can bring significant changes to your benefits, and it can also open up new opportunities you didn’t know you had. Here are three of the most important things to know about what happens to your Social Security checks at your FRA.
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1. You no longer face the early claiming penalty
If you haven’t signed up for Social Security yet, waiting until your FRA to do so will mean you won’t face an early claiming penalty. You’ll qualify for the amount you’ve earned based on your work history to date, and your checks will be larger than they would have been had you signed up earlier. Whether that leads to a larger lifetime benefit depends on how long you live.
Those who are already on Social Security won’t see their checks increase simply because they’ve reached their FRA. When you sign up, you generally lock in your checks at that rate, which only increases due to cost-of-living adjustments (COLAs) and, occasionally, if you’re earning a certain amount from your job while claiming benefits.
2. You could see a benefit boost if you lost money due to the earnings test
Social Security beneficiaries who had money withheld in past years due to the earnings test could see a one-time benefit boost once they reach their FRA. You’d receive this in the month after your birth month, since the Social Security Administration pays checks in the month after they’re due.
The earnings test withholds money from your checks if you earn more than a certain amount at your job while under your FRA. In 2026, you lose $1 for every $2 you earn over $23,400 if you’re under your FRA all year, or $1 for every $3 you earn over $65,160 if you’ll reach your FRA this year and earn that amount before your birthday. These limits will increase to $25,560 and $67,920, respectively, in 2027.
How much more you’ll get depends on how much you’ve had withheld in the past. But the jump could be substantial for some seniors.
3. You’ll gain the option to suspend your benefits
Once you reach your FRA, you have the opportunity to suspend your checks if you want to. Doing so would mean you’d stop getting checks, either until you request that they start again or until you reach age 70. Your checks will grow by 2/3 of 1% per month for each month that you suspend benefits. This could boost your checks by up to 24% in three years.
Of course, you have to be able to cover your living expenses on your own to be able to do this. If not, you may be better off sticking to your existing benefit.
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