70-year-old retirees increasingly claim Social Security benefits due to 1983 reforms.

70-year-old retirees increasingly claim Social Security benefits due to 1983 reforms that increased the full retirement age to 67 and introduced the delayed retirement credit, which increased benefits for delaying up to age 70. This trend aligns with rising life expectancies and financial incentives. In 2022, 8.1% and 8.8% of men and women claimed benefits at 70, compared to 0.8% and 1.6% in 2009.

August 15, 2024
4 Articles

Further Reading