How claiming age changes your check
- Before full retirement age: reduced by 5/9 of 1% for each of the first 36 months early, and 5/12 of 1% for each additional month.
- After full retirement age: increased by 2/3 of 1% per month (8% per year) until age 70.
Things to think about
- Health and family history: if you expect to live into your late 80s or beyond, waiting often pays more over your lifetime.
- Married couples: when the higher earner waits, the surviving spouse’s benefit is also larger.
- Need income now? Claiming earlier can make sense if you need the money or have health concerns.
- Working before full retirement age: an earnings limit can temporarily reduce benefits.
Estimate only, not financial advice. Rules can change. For your exact benefits, sign in to my Social Security at SSA.gov or call Social Security at 1-800-772-1213.
Frequently asked questions
How much less do I get if I claim at 62?
If your full retirement age is 67, claiming at 62 reduces your benefit by 30%, permanently.
How much more do I get by waiting until 70?
If your full retirement age is 67, waiting until 70 gives you 124% of your full benefit (8% more for each year you wait).
What is the break-even age for Social Security?
Comparing 62 with 67, it’s typically around age 78–79. Comparing 67 with 70, it’s usually around 82–83.
Where do I find my full retirement benefit amount?
Sign in to your my Social Security account at SSA.gov to see your personalized estimates.
Sources
- Social Security Administration – Early or late retirement (ssa.gov)
- SSA – Benefit reduction for early retirement
- SSA – Delayed retirement credits
Last reviewed: November 2026 · By the GoldenYearsTools team at XplainedDaily · How we build our tools