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Is age 70 the new 65?

Due to increases in Social Security’s delayed-retirement credit, the real retirement age is now 70, according to a recent research paper from the Center for Retirement Research at Boston College. Social Security benefits in-crease by 8% per year for every year a worker defers claiming benefits beyond full retirement age up to 70. For those whose full retirement age is 66, delayed-retirement credits can boost maximum Social Security benefits to 132% of the full retirement age amount if collected at 70. Read more…

 

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