Why Social Security's Delayed Retirement Credits Will Be Smaller Going Forward

When it comes to signing up for Social Security, you have choices. You can opt to claim your benefits at the earliest possible age of 62, file at your precise full retirement age (FRA) and get the exact monthly benefit your earnings history entitles you to, or hold off on claiming benefits past FRA and accrue delayed retirement credits in the process. Delayed retirement credits are worth 8% a year, or two-thirds of 1% a month, and you can accrue them up until age 70.