Q & A
What are delayed retirement credits?
Answer: You can start Social Security retirement as young as age 62 or wait to a later age. Full retirement age (FRA), sometimes called normal retirement age, is the Social Security Administration term for how old a person must be to receive retirement without age-based reductions. Delayed retirement credits (DRC’s) are increases to a retirement benefit when you delay starting retirement benefits past full retirement age.
DRC increases stop when you reach age 70 even if you continue to delay receiving benefits. There is no additional advantage to putting off Social Security benefits once you reach age 70.
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