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Social Security 70.pdf

IB_13-15-508x.pdf
Preview of Social Security 70
🔗 Source: crr.bc.edu
📊 Size: 498 KB
📄 Pages: 9 pages
⬇️ Downloads: 82

Summary

Social Security's real retirement age is 70, as the Delayed Retirement Credit fully compensates for delayed claiming, making lifetime benefits roughly equal for any claiming age between 62 and 70, with the highest monthly benefits available at 70. The shift to age 70 may be appropriate given increased life expectancy, health, and education, but will lead to low replacement rates for many workers who retire early. Further cuts in benefits by extending the Full Retirement Age will lead to very low benefits for early retirees, and policymakers need to inform those who can work that 70 is the new retirement age and devise ways to protect those who cannot work.

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Description

Social Security's real retirement age is 70, as the Delayed Retirement Credit fully compensates for delayed claiming, making lifetime benefits roughly equal...

Technical Information

  • File Format: PDF
  • File Size: 498 KB
  • Pages: 9
  • Language: EN
  • Total Downloads: 82
  • Last Updated: 1 week ago

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