US Finance
Social Security at 62 vs 67 vs 70: The Precise Break-Even Analysis for 2026
For those born in 1960 or later, Full Retirement Age is exactly 67. Claiming at 62 permanently reduces your monthly benefit by exactly 30% — not approximately, but precisely, per the SSA's formula. Waiting until 70 gives a 24% bonus above your FRA benefit (8% per year for three years). The break-even: claiming at 67 overtakes 62 in lifetime benefits at age 78 years and 8 months. Claiming at 70 overtakes 67 at age 82 years and 6 months. Here is the complete math for your 2026 claiming decision, including the landmark Social Security Fairness Act changes effective January 2025.