Your Social Security check changes dramatically depending on when you claim. Start at 62 and you get a permanent reduction; wait until ≈67 for 100%; delay to 70 for your maximum. Below, see the exact trade-offs, how working and taxes affect your payout, and what married couples should weigh first.

Quick answer: Should I claim at 62, 67, or 70?

• 62: Best for those who need cash flow now, have shorter life expectancy, or want to stop work and won’t return soon. Expect ~70% of your full-benefit amount if your FRA is 67.
• FRA (~67): Balanced middle—100% of your benefit (no earnings limit once you reach FRA).
• 70: Financially strongest monthly check—roughly +24% vs FRA for those born 1960+ (DRCs ~8%/yr after FRA).

Bottom line: If you can cover expenses without Social Security, delaying generally increases guaranteed, inflation-adjusted income for life; if not, claiming earlier may be practical. Use SSA calculators to model your numbers.

How your benefit changes by age (62 vs. FRA vs. 70)

Key percentages (FRA = 67; “PIA” = your full benefit):

Source: SSA benefit examples & DRC schedules (last checked: Sep 11, 2025).

How reductions/credits are actually calculated:

• Early claiming reduction = 5/9 of 1% per month for the first 36 months before FRA; then 5/12 of 1% per month beyond that.
• Delays after FRA earn credits up to age 70; some credits post to your check the January after you start, if you filed mid-year.

Bottom line: With FRA=67, 62 ≈ 70%, FRA=100%, 70 ≈ 124%—the math is built into SSA’s calculators and into your my Social Security statement.

Working while claiming: the earnings test (before FRA)

If you work and claim before FRA, Social Security may withhold some benefits when your earnings exceed an annual limit (the RET). Withheld benefits aren’t lost—SSA increases your benefit at FRA to credit those months.

2025 example limits (SSA):

• Under FRA all year: $23,400; SSA withholds $1 for every $2 above that.
• Reaching FRA this year (before the month you reach it): $62,160; SSA withholds $1 for every $3 above that.
  After you hit FRA, no earnings limit applies.

Note: A “special monthly rule” can help in your first year of retirement if only some months have low earnings.

Bottom line: If you’ll work substantially before FRA, consider delaying or budget for withholdings; your monthly benefit rises at FRA to reflect months withheld.

Taxes on Social Security & simple planning moves

Federal tax law may tax up to 85% of benefits depending on “combined income.” The base amounts haven’t changed in decades: $25,000 (single) and $32,000 (MFJ). Above those, part of your benefits may be taxable.

Quick planning ideas (general education):

• Manage other income (RMDs, interest, capital gains) in the year you start.
• Consider withholding federal tax from benefits to avoid surprises.

Bottom line: Social Security can be taxable—check IRS Pub. 915 and run a mock return before you claim.

Medicare timing at 65 (even if you delay Social Security)

You’re typically advised to enroll around 65 to avoid Part B late-enrollment penalties (generally +10% for each full 12 months without Part B when not covered by a qualifying employer plan). If you’re already receiving Social Security at least 4 months before 65, enrollment is usually automatic.

Bottom line: Delaying Social Security is not a reason to miss Medicare deadlines—mark your Initial Enrollment Period and use SEP rules if you have employer coverage.

Married? The spousal & survivor rules that change the answer

• Spousal benefits: Up to 50% of the worker’s PIA if claimed at the spouse’s FRA. Claim earlier and the spousal amount is reduced.
• Deemed filing: If you turn 62 on/after Jan 2, 2016, you generally can’t take “spousal-only” and keep growing your own benefit—filing for one usually files for both. (Narrow exceptions apply.)
• Survivor benefits: A widow(er) can claim as early as 60 (reduced) up to 100% at survivor FRA; deemed filing does not apply to survivor claims, so survivors can often claim one benefit then switch later.
• Couples strategy idea: The higher earner delaying to 70 typically raises the future survivor benefit.

Bottom line: For many couples, having the higher earner wait (if feasible) improves lifetime and survivor income, while the other spouse can file earlier if needed.

Break-even, longevity & risk: how to think about it

• In general, waiting increases your monthly check, but you collect fewer months. The break-even point (when waiting surpasses taking early in total dollars) often lands in your late 70s to early 80s—but it’s personal. Use SSA calculators and a life-expectancy tool to compare.
• Benefits are inflation-adjusted annually via COLA; delaying raises the base the COLA applies to.

Bottom line: If you expect average/long life and have other savings, waiting often pays; if health or job risk threatens cash flow, claiming earlier can be sensible.

Comparison table: 62 vs 67 vs 70 (FRA=67)

Sources: SSA benefit rules, earnings test & calculators (last checked: Sep 11, 2025).

Checklist: Which age fits you?

• I can cover expenses without Social Security until 67/70.
• My health/longevity outlook is average or above.
• I won’t earn over the earnings-test limits before FRA—or I’m okay with withholdings.
• I’ve planned Medicare enrollment at 65 to avoid penalties.
• For couples, the higher earner can delay to raise survivor benefits.
• I understand Social Security may be taxable and set withholding if needed.

Bottom line: If you check most boxes, waiting to FRA/70 is compelling. If not, 62 or mid-60s could be the right call.

Common mistakes to avoid

• Missing Medicare at 65 while delaying Social Security → Part B penalty (generally 10% per full 12 months).
• Assuming you’ll “lose” withheld benefits forever under the earnings test—SSA recalculates at FRA.
• Thinking you can still do “spousal-only” at FRA—deemed filing rules mostly ended that option for those turning 62 on/after Jan 2, 2016.
• Ignoring taxation of benefits and getting surprised at filing time.
• Waiting past 70—no further DRCs after your 70th birthday.

Special note: WEP/GPO repeal (2025)

If you or a spouse had a non-covered pension (many public jobs), the Social Security Fairness Act (Public Law 118-273, Jan 5, 2025) repealed the Windfall Elimination Provision and Government Pension Offset, with retroactive adjustments beginning 2024. This simplifies planning for many households. Always confirm your specific record with SSA. Source: SSA & Congress.gov, last checked: Sep 11, 2025.

Important: This guide is educational, not individualized tax/financial/legal advice. Talk to a fiduciary advisor or the SSA about your specific record.

Key sources used (anchor facts)

• SSA: Early/late reduction + DRCs; FRA=67; 70%/124% examples; calculators. Source last checked: Sep 11, 2025.
• SSA: Earnings test limits (2025) & recalculation; special monthly rule. Source last checked: Sep 11, 2025.
• IRS/SSA: Taxation thresholds and Pub. 915. Source last checked: Sep 11, 2025.
• Medicare/CMS: Part B penalty & enrollment windows. Source last checked: Sep 11, 2025.
• SSA: Spousal 50%, survivor 71.5%–100%, deemed filing rules. Source last checked: Sep 11, 2025.
• Congress.gov/SSA: WEP/GPO repeal (PL 118-273). Source last checked: Sep 11, 2025.

Takeaways & next steps

3–5 takeaways

1. 62 vs 67 vs 70 is a trade-off: ~70% vs 100% vs ~124% of your PIA (FRA=67).
2. If you work before FRA, the earnings test may withhold benefits now but raises your check at FRA.
3. Social Security can be taxable; plan around the $25k/$32k base amounts.
4. Medicare at 65 matters even if you delay Social Security—avoid Part B penalties.
5. Spousal/survivor rules often make the higher earner delaying to 70 advantageous.

Next steps

• Pull your my Social Security statement and run the SSA benefit calculators for 62/67/70.
• Map your Medicare enrollment date and coverage.
• Estimate taxes (Pub. 915) and set withholding if needed.
• For couples, model survivor outcomes with the higher earner delaying.

FAQ Section

1) How much is Social Security reduced at 62 if my FRA is 67?
About 30%—you’d receive roughly 70% of your PIA if you claim at 62 (FRA 67).

2) How much bigger is my benefit at 70?
For those born 1960+, claiming at 70 is roughly 124% of your PIA (about +24% vs FRA).

3) If I work and claim early, do I lose benefits forever?
No. The earnings test may withhold checks now, but SSA recalculates at FRA to credit withheld months.

4) Are Social Security benefits taxable?
Possibly. Up to 85% of benefits can be taxed once combined income exceeds $25k (single) or $32k (MFJ).

5) Do I have to start Medicare if I delay Social Security?
You should plan to enroll around 65 to avoid a Part B penalty (10%/12 months), unless you qualify for a Special Enrollment Period.

6) Can I claim a spousal benefit and let my own grow?
Generally no if you turned 62 on/after Jan 2, 2016—deemed filing applies in most cases.

7) What about survivor benefits?
Survivors can often claim one benefit then switch later; deemed filing doesn’t apply to survivors.

8) Did WEP/GPO rules change for public pensions?
Yes. The Social Security Fairness Act (PL 118-273) repealed WEP/GPO; SSA is processing adjustments.