America's Social Security programme arrives at its full retirement age of 67 in 2027. That number is significant.
Workers who claim before 67 receive a permanent decrease to their monthly payments. Those who wait past that age receive more money each month.
There is also a different provision for people who earned above the annual limit before hitting full retirement age. Once they turn 67, they can recoup any payments that were held back.
A cost-of-living adjustment anticipated in 2027 could push some retirees into a higher tax bracket, which would reduce any gain from that increase.