See the chart for the impact of claiming age.
Lifetime Benefit Estimates
Total lifetime benefits at various ages based on your earnings and claiming age.
Age 80
Age 85
Age 90
Age 95
Lifetime benefit estimates include a 2.5% annual cost-of-living adjustment. Actual benefit adjustments will vary.
About Claiming Ages
The age at which you choose to start receiving benefits affects your monthly payment, but your total lifetime benefit is designed to be similar - no matter your claiming age.
In general, total lifetime benefits increase if you delay your claiming age as long as possible and live into your mid-80s. But while the maximum overall difference between claiming at 62 versus 70 years may be less than 20% at age 95, the benefit of having a higher monthly income can be significant.