Smiling elderly couple with hundred-dollar bills in the foreground and U.S. flags in the background — Delaying the retirement age can be very interesting | Pexels, Freepik

Camara — Delaying the retirement age can be very interesting | Pexels, Freepik

Good news from SSA for retirees who meet this requirement: more money

SSA confirms an increase in the retirement pension for Americans who meet this condition

18/07/2025 11:34:00h

Miguel Cuartas Ortego

Retiring is one of the most important decisions in any worker's life. In the United States, the Social Security Administration (SSA) allows you to apply for retirement starting at age 62, but you need to know other details.

For example, postponing it until age 70 can offer great financial benefits that many people are unaware of. Taking some time to evaluate this option can mean a much more comfortable and secure retirement.

Benefits of the SSA for delaying retirement

One of the biggest benefits of delaying retirement until age 70 is the increase in the monthly amount you'll receive from SSA. For each year you postpone your retirement after full retirement age (between 66 and 67 years old, depending on your year of birth), your monthly pension will increase by approximately 8%.

Group of smiling seniors with a man in front holding a blue sign that says social security

Retiring at 70 can be key to your pension | Grok

That means if you decide to wait until age 70, you could receive 24% to 32% more each month compared to those who retire at the minimum permitted age. This increase is permanent and applies throughout your entire retirement.

In the long term, retiring at age 70 is an excellent financial strategy, especially if you are in good health and can keep working. By receiving a higher pension, you'll have more money to cover your basic needs and you can also save or invest that surplus or enjoy your free time.

SSA considers it a strategic decision

Another key benefit is protection against inflation. SSA benefits include annual adjustments known as COLA (Cost of Living Adjustment), but these are calculated based on your pension. If you retire with a higher amount, the annual increase will also be greater, which will allow you to better keep your purchasing power over time.

A man in a dark suit holds a large Social Security card while looking at the camera, with another older person blurred in the background.

The amount increases by 8% for each additional year | Grok

Retiring at 70 also reduces the need to rely on personal or family savings. A higher monthly pension may be enough to cover most of your expenses, which means less worry about depleting your resources.

SSA offers tools on their website to calculate how much you could earn depending on the age at which you decide to retire. Using these tools and planning ahead can help you make an informed decision tailored to your needs.

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