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US Government Information/Delaying Social Security Benefits

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Question
Hello:

If I retire at 66 but do not apply for Social Security benefits until I'm 70, will my benefit amount be larger even though I stopped working four years earlier?

Answer
Your full retirement age benefit will increase two-thirds of one percent for each month retirement benefits are delayed from full retirement age to age 70.   If your full retirement age is 66, that results in a 32% increase at age 70.  

Hope this answered your question.

Darlene

US Government Information

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Darlene Oldendick

Expertise

Social Security retirement planning and all questions about Social Security eligibility and entitlement.

Experience

Worked for the Social Security Administration for 33 years

Publications
http://www.socialsecurityadviceonline.com

Education/Credentials
33 years employment with the Social Security Administration

Awards and Honors
Many outstanding performance awards while employed at the Social Security Administration

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