5/20/2015 – A Promising Trend in Taking Social Security Benefits (CBS Money Watch)

May 20, 2015 Comments Off by

Not all news is bad when it comes to Social Security benefits. A recent study of claims data shows that the percentage of workers turning age 62 who start Social Security benefits at that age has declined significantly since 1996.

Why this is good news: Most retirees will be more financially secure in retirement if they can enjoy the higher Social Security income that results from delaying the start of their benefits.

The report from the Boston College Center for Retirement Research (CRR) found that in 1996, more than half of all men (56 percent) who attained age 62 started Social Security benefits at that age. By 2013, this percentage had declined to a little more than one-third (35.6 percent). The results are similar for women. In 1996, almost two-thirds (62.8 percent) of them started Social Security at age 62, but that dropped to well under half (39.5 percent) by 2013.

Read the full article at CBS Money Watch.

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