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Social Security Retirement Insurance

Delayed Retirement

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Just as you have the option of taking early retirement, you have the option to continue to work beyond your Full Retirement Age and delay starting your benefits.

If you choose to delay retirement, you will receive a monthly benefit greater than the Full Retirement Benefit. Just as the Early Retirement Amount is reduced because you will probably collect it longer, the Delayed Retirement Benefit is larger because averages say you won't collect it as long. Additionally, the odds are you will be earning more now than in your early years so the 40 credits used to calculate your benefit will be from a higher base than if you didn't add the higher earnings years.

The amount of any increase varies with your date of birth. This again is meant to provide approximately the same total benefit over a person's lifetime, regardless of the age at which the collection of benefits begins. The percentage increase in the Delayed Retirement Benefit over the Full Retirement Benefit is shown in the table below:

Year of Birth

Yearly Rate of Increase

1917 -- 1924


1925 -- 1926


1927 -- 1928


1929 -- 1930


1931 -- 1932


1933 -- 1934


1935 -- 1936


1937 -- 1938


1939 -- 1940


1941 -- 1942


1943 or later


Calculations: If you want to calculate the benefit amounts you would receive if you started retirement at different ages, take a look at the Social Security Retirement Planner at offsite link. It has a calculator that allows you to get a quick, online calculation of benefits based on earnings and other information that you provide. Because of confidentiality concerns, Social Security will not display your real earnings record on line.

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