Tag: Social Security claiming
It’s inevitable that many older workers – either fearful of returning to work or unable to find employment – will claim their Social Security benefits early as a result of COVID-19. While claiming early locks beneficiaries into actuarially reduced monthly payments, it offers a safety net for unemployed older workers. In preparation for looking at…
The brief’s key findings are: People can claim Social Security from 62 to 70, with adjustments to keep lifetime benefits the same, on average, regardless of claiming age. The question is whether the adjustments, set decades ago, are still correct, given the decline in interest rates and increase in life expectancy. For the average worker,…
