How claiming age changes your benefit
Your full benefit, the primary insurance amount, is paid if you claim at your full retirement age: 67 for anyone born in 1960 or later, and between 66 and 67 for those born 1954 to 1959. Claim earlier and it's permanently reduced; wait and it grows until 70.
Example: born in 1964 with a $2,000 full benefit at 67: claiming at 62 pays $1,400 (70%), and waiting until 70 pays $2,480 (124%). Waiting from 62 to 67 breaks even at about age 78 and 8 months; waiting from 67 to 70 breaks even at 82 and 6 months.
What else to weigh
- Health and family longevity. If you expect to live past the break-even age, waiting pays more over your life.
- Your spouse. A surviving spouse can keep the larger of the two benefits, so the higher earner waiting often protects the survivor.
- Working while claiming early. Before full retirement age, Social Security withholds $1 for every $2 you earn above the yearly limit ($24,480 in 2026), though it's credited back later.
- Taxes. Up to 85% of benefits can be taxable, depending on your other income.
Plan the rest of your income with the retirement calculator.
Frequently asked questions
What is the best age to claim Social Security?
There's no single best age. Claiming at 62 pays the most checks; waiting to 70 pays the biggest checks, about 77% more per month than 62 for people with a full retirement age of 67. Most people who live past their early 80s collect more in total by waiting.
How much less is Social Security at 62?
For anyone born in 1960 or later, 30% less than the full benefit at 67. It's a permanent reduction.
Do I keep earning delayed credits after 70?
No. Delayed retirement credits stop at 70, so there's no benefit to waiting longer. Apply up to three months before you want benefits to start.
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