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When to Claim Social Security: How Age Affects Your Benefit

Claiming at 62, your full retirement age, or 70 results in very different monthly benefits. Here's the tradeoff to understand before you file.

7 min readReviewed for the 2026 plan year

Retirement Planning · Jenkins Insurance & Retirement

When to Claim Social Security: How Age Affects Your Benefit

Claiming at 62, your full retirement age, or 70 results in very different monthly benefits. Here's the tradeoff to understand before you file.

The Three Key Ages

  • Age 62: Earliest you can claim, but your benefit is permanently reduced — often by around 25-30% compared to your full benefit.
  • Full Retirement Age (66-67, depending on birth year): You receive 100% of your calculated benefit.
  • Age 70: Your benefit grows roughly 8% per year you delay past full retirement age, maxing out at 70.

What Affects the Right Choice

Health and family longevity, whether you're still working, spousal benefit coordination, and how much other guaranteed income you have all factor into the right claiming age — there's no single right answer for everyone.

Key Takeaways

  • Claiming early permanently reduces your monthly benefit; delaying increases it.
  • Full retirement age varies by birth year — confirm yours on SSA.gov.
  • The right claiming age depends on health, other income, and household strategy, not a flat rule.

Social Security rules and benefit calculations are set by federal law and can change. This is general education — consult SSA.gov or a financial advisor for your specific benefit estimate.

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