Social Security claiming ages shifting towards 65 to full retirement age.

From Nasdaq: 2025-02-16 15:00:00

Social Security’s earliest claiming age of 62 has been popular, but the number of beneficiaries applying at this age has decreased to about a quarter. The trend is shifting towards claiming between ages 65 and full retirement age (FRA), with over 14% of claimants falling in this range in 2023. Claiming at 62 reduces checks by 30%, while delaying increases checks by 5% to 6.7% per year. Claiming between FRA and 69 is becoming more popular, with 12.5% of women and 14.2% of men applying in 2024, up from 8.4% and 10.1% in 2018. Claiming at 70 offers the maximum benefit, with 8.6% of men and 9.6% of women applying at this age in 2023. It’s important to consider all options before deciding when to claim Social Security benefits.



Read more at Nasdaq: These 3 Social Security Claiming Ages Get More Popular Every Year