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Average Social Security Benefits by Age
Retirees can significantly increase their Social Security benefits by delaying claims until age 70, rather than claiming early at age 62, as benefit amounts are higher the longer they wait. The average benefit at age 70 exceeds that at age 62 by up to 77%, based on inflation-adjusted work history and the timing of claiming. Benefits are permanently reduced if claimed before full retirement age, which is 67 for those born in 1960 or later.
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Notice: This Is an AI-Generated Summary
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