Social Security at 62 vs 70: The Full Comparison
Claiming Social Security at 62 pays 70% of your benefit; waiting to 70 pays 124%. Here is the complete 62 vs 70 comparison.
Claiming Social Security at 62 pays 70% of your benefit; waiting to 70 pays 124%. Here is the complete 62 vs 70 comparison.
These are the two extremes: claim as early as possible (62) or earn maximum delayed credits (70). With a $2,000 PIA (FRA 67):
| At 62 | At 70 | |
|---|---|---|
| Monthly benefit | $1,400 | $2,480 |
| % of PIA | 70% | 124% |
| Total by 80 | $302,400 | $297,600 |
| Total by 85 | $386,400 | $446,400 |
By age 80 the paths are nearly even (break-even ~80-81); by 85, delaying is ahead by about $60,000. The 70 option also gives your spouse a larger survivor benefit. Run your own numbers in the 62 vs 70 calculator.
Frequently Asked Questions
How much more does 70 pay than 62?
About 77% more per month ($2,480 vs $1,400 on a $2,000 PIA) — because 70 = 124% of PIA and 62 = 70% of PIA.
When does 70 beat 62 in total?
Around age 80-81 for a typical scenario. Past that, delaying wins — see the calculator.
What if I die before 80?
Then claiming at 62 paid more in total, and your survivors may still qualify for benefits — see survivor benefits.