Is What My Friend Told Me True?

Mar 18 2017 - 8:15am

I just turned 66 on March 13, 2017. i was considering waiting until I turn 70 to file for Social security. However, a good friend of mine just told me that the benefits no longer gain 8% per year since a bill was passed in April 2016. I had not heard anything of that information. Is that true?

Hi,

No, your friend is mistaken. Delayed retirement credits can still be earned at a rate of 8% per year if you defer drawing benefits from full retirement age until age 70. You may want to run the maximization software available on this website in order to explore your filing options and determine your best strategy.

Best, Jerry