Will My Benefit Increase If I Wait 4 Years Even If I Take A Lower Paying Job?

Apr 14 2018 - 7:57am

My ssn is $1568.00 if I claim now at 65 if I wait a year its $1638.00 wow...and that's before medicare. Just got laid off....if I wait 4 more years will it go up to 2100.00 even if my next job isn't making as much as I was making?


If your full retirement age is 66 and your full retirement age benefit rate (PIA) would be $1638 based on your earnings to date, then your benefit rate would be at least 32% higher (i.e. roughly $2162) if you waited until age 70 to start drawing your retirement benefits. That's true whether you work or not and regardless of how much you earn between now and age 70.

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Best, Jerry