What is the most common age to claim Social Security?

Many people still claim at 62, the earliest age — roughly a third of new retirees — though that share has been declining. Full retirement age is another common point, and only about 10% wait until 70.

How much more do I get by waiting until 70?

Up to about 24% more than your full retirement age benefit, thanks to delayed-retirement credits (about 8% per year past full retirement age, up to 70). Claiming at 62 instead cuts your benefit by up to about 30%.

Is it always best to wait until 70?

No. Research suggests waiting maximizes lifetime income for most people, but it assumes average longevity and the ability to delay. If you need the income, are in poor health, or are coordinating with a spouse, claiming earlier can be the right call.

Does claiming early permanently reduce my benefit?

Yes. The reduction for claiming before full retirement age is generally permanent (aside from annual cost-of-living adjustments, which still apply).

When can I claim Social Security?

As early as 62 (with a permanent reduction), at your full retirement age of 67 for the full amount if you were born in 1960 or later, or up to age 70 for the maximum benefit.

When Do Most People Claim Social Security?

Most people claim early — about a third start at 62, and only about 1 in 10 wait until 70, even though research says waiting maximizes lifetime income for most. Here’s what the data shows and why your timing is one of the biggest retirement decisions you’ll make.

Most Americans claim Social Security early: roughly a third start at 62, the earliest age possible, while only about 1 in 10 wait until 70 — the age that produces the largest possible check. That gap matters, because when you claim permanently shapes your monthly income for the rest of your life.

What the data shows

Looking at recent SSA data on newly awarded retirement benefits:

About a third claim at 62, the first month they’re eligible.
Only ~10% wait until 70, even though that’s when benefits peak.
Most of the rest claim somewhere in between, often around their full retirement age.
The good news: the share rushing to claim at 62 has been declining over the years — more people are waiting.

Why it matters: the difference is big and permanent

Your claiming age changes your benefit for life:

Claim at 62 and your monthly benefit is permanently reduced by up to about 30% versus your full retirement age (67 for those born in 1960 or later).
Wait until 70 and you earn delayed-retirement credits worth up to about 24% more than your full benefit. There’s no gain to waiting past 70.
In real numbers, the average new retiree benefit was around $1,340 a month at 62 versus about $2,150 at 70 in late 2024 — roughly $800 more a month for those who waited. (Different people, but it shows the spread.)

A widely cited 2022 study from the National Bureau of Economic Research found that more than 90% of workers would get the most lifetime income by waiting until 70 — yet, as the numbers above show, very few actually do.

So should you wait?

Not necessarily — the “optimal” math assumes average life expectancy and that you can afford to delay. Your decision should fit your life:

Reasons to claim earlier: you need the income now, you’re in poor health, or you’re coordinating with a spouse’s benefit.
Reasons to wait: you’re healthy with longevity in the family, you’re still working, or you want the largest inflation-protected income as a hedge against outliving your savings.

The averages are interesting, but your health, savings, work plans, and marital situation matter far more than what the crowd does.

How to decide

Estimate your own benefit at 62, 67, and 70 with our benefits estimator, then weigh the trade-offs in our guide on when to claim and the basics of full retirement age.

This article is for general education and is not financial advice. Claiming statistics and reduction/credit figures are from the Social Security Administration and published research; confirm your own numbers at ssa.gov or in your my Social Security account.