Working Past 62 Can Boost Social Security Benefits

Retirees who delay claiming Social Security past age 62 may see permanent benefit increases by replacing low-earning years in their calculation. The decision involves trade-offs between earlier access to funds and higher long-term payments.

• Age 62 is the earliest age to claim Social Security benefits but reduces payments by up to 30% compared to full retirement age.
• Benefits are calculated using the 35 highest-earning years, with zeros used for non-working years.
• The average monthly benefit in January 2026 was $2,071.
• Delaying benefits until age 70 increases monthly payments by 24% compared to claiming at full retirement age.
• Working past 62 can replace low-earning years in the benefit calculation.
• Personal factors like health and financial needs influence when to claim benefits.