Social Security: Age 62 vs 67 vs 70
Three claiming ages, three different monthly checks. Enter your own benefit and birth year to see the side-by-side monthly amounts at 62, full retirement age, and 70 — plus the lifetime totals and break-even age between them.
Your Primary Insurance Amount (PIA). Don't know it? Estimate it from your income or check ssa.gov/myaccount.
Your Full Retirement Age (FRA): 67
Age 62
$1,40070% of FRA benefit
FRA (67)
$2,000100% of FRA benefit
Age 70
$2,480124% of FRA benefit
Age 62 vs FRA (67)
Age 78
Delaying to FRA (67) pays off if you live past 78
Age 62 vs Age 70
Age 80
Delaying to Age 70 pays off if you live past 80
FRA (67) vs Age 70
Age 82
Delaying to Age 70 pays off if you live past 82
| Claiming Age | Monthly | % of FRA Benefit |
|---|---|---|
| Age 62 | $1,400 | 70% |
| FRA (67) | $2,000 | 100% |
| Age 70 | $2,480 | 124% |
Monthly benefit at 62, 67 (FRA), and 70
Someone born in 1965 (FRA 67) with these Primary Insurance Amounts (PIA — the benefit payable at exactly full retirement age):
| PIA at FRA | Claim at 62 | Claim at FRA (67) | Claim at 70 |
|---|---|---|---|
| $1,800/mo | $1,260 | $1,800 | $2,232 |
| $2,000/mo | $1,400 | $2,000 | $2,480 |
| $3,000/mo | $2,100 | $3,000 | $3,720 |
Lifetime totals by longevity assumption
Cumulative benefits collected (0% COLA, real dollars) for the $2,000/month PIA example, if benefits are collected from the claiming age through the ages below:
| Live to age… | Claim at 62 | Claim at FRA (67) | Claim at 70 |
|---|---|---|---|
| 80 | $319,200 | $336,000 | $327,360 |
| 85 | $403,200 | $456,000 | $476,160 |
| 90 | $487,200 | $576,000 | $624,960 |
These are lifetime totals, not present-value comparisons — they don't discount future dollars or account for what early payments could earn if invested. Use the calculator above to run your own longevity assumption and see the exact break-even age.
Percent of PIA at every claiming age, 62-70
For someone born in 1965 (FRA 67), every whole-year claiming age from 62 to 70:
| Claiming age | % of PIA |
|---|---|
| 62 | 70% |
| 63 | 75% |
| 64 | 80% |
| 65 | 86.7% |
| 66 | 93.3% |
| 67 (FRA) | 100% |
| 68 | 108% |
| 69 | 116% |
| 70 | 124% |
Your own birth year changes this table. Every birth year from 1955 through 1965 has its own reduction and credit schedule — see the full retirement age calculator or one of these birth-year pages:
Frequently asked questions
What's the actual dollar difference between claiming at 62, 67, and 70?
For a $2,000/month benefit at full retirement age (born 1965, FRA 67): claiming at 62 pays $1,400/month, waiting to FRA pays the full $2,000/month, and delaying to 70 pays $2,480/month — about 77% more per month than claiming at 62.
Is there a real difference between FRA and age 70, or is 67 close enough?
For someone with FRA 67 — a birth in 1960 or later, which is after 1 January 1943 and so earns the top delayed-credit row of 20 CFR 404.313(b)(2) — waiting the extra 3 years to 70 adds delayed retirement credits of 8% per year, 24% more than the FRA amount, permanently. Credits stop accruing at 70 for every cohort, so there's no benefit to waiting any longer than that.
Which claiming age gives the most money over a lifetime?
It depends entirely on how long you live. Claiming at 62 gets money sooner but at a lower monthly rate; claiming at 70 pays more per month but starts later. The two strategies produce roughly the same lifetime total around the break-even age (typically the early-to-mid 80s) — live past it and delaying wins; die before it and claiming early paid more in total.
Does claiming age 62 vs 67 vs 70 change if I keep working?
If you claim before your full retirement age and keep earning wages, SSA's earnings test can temporarily withhold part of your benefit above an annual limit (2026: $24,480/year, or $65,160 in the year you reach FRA). Withheld amounts are credited back later through a higher benefit at FRA. There's no earnings test once you reach FRA, which is one reason many people who plan to keep working choose 67 or 70 over 62.
Can I change my mind after claiming?
Within 12 months of first claiming, you can withdraw the application (Form SSA-521) and repay what you received, resetting the clock as if you never claimed. After 12 months, or at any time from full retirement age onward, you can voluntarily suspend benefits until as late as 70 to earn delayed retirement credits on the months you don't collect.
Sources
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