Regardless of the age at which they retire, eligible workers suffer a 13% cut in Social Security benefits when the retirement age is raised from 67 to 69. For many workers, especially those who are forced to retire early due to unemployment or physically demanding work, this cut is a significant reduction of already modest benefits. The following fact sheet from Social Security Works demonstrates the impact of raising the retirement age for a worker entitled to a monthly benefit of $1,000.
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