When to Claim Social Security at 62, Full Retirement Age or 70 (2027 Guide)
Last updated: November 2, 2026. Percentages and dollar amounts are from the Social Security Administration. Your own numbers are in your my Social Security account.
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You can start Social Security retirement benefits at any age from 62 to 70. If your full retirement age is 67 (anyone born in 1960 or later), claiming at 62 pays about 70% of your full benefit for life, claiming at 67 pays 100%, and waiting until 70 pays 124%. There is no single best age; it depends on your health, work, savings and whether you are married.
| Benefit at 62 | 70% of your full amount |
| Benefit at 63 / 64 / 65 / 66 | 75% / 80% / 86 2/3% / 93 1/3% |
| Benefit at 67 (full retirement age) | 100% |
| Benefit at 70 | 124% (8% a year in delayed retirement credits) |
| Highest possible benefit, starting at 67 in January 2027 | $4,188 a month |
| Highest possible benefit, starting at 70 in January 2027 | $5,358 a month |
| Spouse benefit at the spouse's full retirement age | Up to 50% of the worker's full benefit |
Source: SSA Office of the Chief Actuary (early or delayed retirement table and maximum-earner examples) and SSA Retirement Benefits publication.
1. The Three Key Ages
- Age 62: the earliest you can start retirement benefits. The reduction is permanent, so the smaller check continues for life.
- Full retirement age: 67 for anyone born in 1960 or later. For people born from 1955 to 1959 it falls between 66 and 2 months and 66 and 10 months. At this age you get 100% of your primary insurance amount.
- Age 70: delayed retirement credits stop. For anyone born in 1943 or later, each year you wait past full retirement age adds 8%, so there is no benefit to waiting beyond 70.
2. How Much Each Year of Waiting Is Worth
The table below uses the SSA's official percentages for people born in 1960 or later.
| Start age | Share of full benefit | Example if full benefit is $2,000 |
|---|---|---|
| 62 | 70% | $1,400 |
| 63 | 75% | $1,500 |
| 64 | 80% | $1,600 |
| 65 | 86 2/3% | $1,733 |
| 66 | 93 1/3% | $1,867 |
| 67 | 100% | $2,000 |
| 70 | 124% | $2,480 |
The $2,000 column is an illustration only, before COLAs and rounding. For a worker who earned the maximum taxable amount every year since age 22, the SSA's own examples show a starting benefit in January 2027 of $3,094 a month at 62, $4,188 at 67 and $5,358 at 70.
3. Break-Even Thinking
Claiming early gives you more checks; waiting gives you bigger checks. A simple way to compare is to ask how long it takes the larger check to catch up with the head start of the smaller one.
- Using the $2,000 example above, claiming at 62 pays $1,400 a month for five years before age 67, about $84,000 in total.
- Starting at 67 instead pays $600 more each month. It takes about 140 months, or roughly 11 to 12 years, for that extra $600 a month to make up the $84,000 head start, so the totals cross around age 78 or 79.
- If you expect to live well past that age, waiting usually pays more over your lifetime. If you have serious health problems or need the income now, claiming earlier may make more sense.
This is simple arithmetic that ignores COLAs, taxes and investment returns, so treat it as a starting point, not a forecast. Your my Social Security account shows your own estimates at each age.
4. Reasons to Claim Earlier
- You need the income now and have no other source.
- You have health problems or a family history that suggests a shorter retirement.
- You are single and no spouse would depend on your benefit as a survivor.
- You have stopped working, so the earnings test will not reduce your checks.
5. Reasons to Wait
- You expect a long retirement and want a larger monthly check.
- You are the higher earner in a marriage. When you die, your surviving spouse's benefit is based on your benefit including any delayed retirement credits, so waiting can protect them for life.
- You are still working before full retirement age. In 2027 the SSA withholds $1 for every $2 you earn above $25,560, so claiming early while working can mean smaller checks now. Our 2027 taxes and earnings limits guide explains the earnings test.
- You have savings or a pension to cover the years before you claim.
6. Spousal Timing Basics
- Spouse benefit: a husband or wife with low or no earnings can get up to half of the worker's full benefit at the spouse's own full retirement age. If your own benefit is lower, you receive a combination that equals the higher spouse benefit.
- Claiming the spouse benefit early: it is reduced. If full retirement age is 67, a spouse claiming at 62 gets 32.5% of the worker's unreduced benefit instead of 50%.
- Delayed credits: they raise the worker's own benefit and any future survivor benefit, but the SSA adds them only to the worker's own retirement benefit, not to the spouse benefit.
- Survivor benefit: a surviving spouse at full retirement age or older generally gets 100% of the deceased worker's benefit amount. Between age 60 and full retirement age it is 71% to 99%.
Couples often plan so the higher earner waits while the lower earner claims earlier. For more strategies, see 5 ways to maximize your Social Security benefits.
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Frequently Asked Questions
Can I change my mind after I start benefits early?
Once you reach full retirement age, you can ask the SSA to voluntarily suspend your benefit and earn delayed retirement credits for the months until 70.
Do I have to stop working to claim at 62?
No. But before full retirement age, earnings above $25,560 in 2027 lead the SSA to withhold part of your benefit. The SSA increases your monthly amount at full retirement age to account for the months it held back.
Is waiting until 70 always the best choice?
No. It pays the largest monthly check, but only helps your lifetime total if you live long enough to pass the break-even point. Health, income needs and a spouse's situation all matter.
Related Guides
- How to Apply for Social Security Retirement Benefits in 2027, Step by Step
- 5 Ways to Maximize Your Social Security Benefits (2027 Update)
- Social Security Taxes and Earnings Limits for 2027 and What Changes (Updated October 2026)
- Social Security Benefits 2027 for Retirement, Disability and Survivors (Updated October 2026)
Sources
- SSA: Effect of Early or Delayed Retirement on Retirement Benefits
- SSA: Benefit Examples for Workers With Maximum-Taxable Earnings
- SSA publication: Retirement Benefits
- SSA publication: Survivors Benefits
- Code of Federal Regulations 20 CFR 404.313: Delayed Retirement Credits
- SSA: Exempt Amounts Under the Earnings Test
- SSA: Plan for Retirement
This guide is general information, not legal, tax or financial advice. Aid Hub is not affiliated with the Social Security Administration or the IRS. Always confirm your situation through official .gov websites.
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