Fewer Claiming Social Security Early, by Percentage
(Source – FEDweek)
Studies showing that greater percentages of people are claiming Social Security benefits as early as possible can be based on misleading figures, the Center for Retirement Research has said, concluding that to the contrary, the share of those starting to draw benefits at age 62 is continuing to decline.
The age at first claiming Social Security benefits is important to beneficiaries since benefits are reduced for those claiming before full retirement age, which currently is 66; likewise, benefits are increased for delaying past that age up until claiming at age 70 (after which there is no longer an increase). Read more…