Updated 12/21/2012 10:58 AM   |   ID# 3

Benefit amount if Retirement is delayed

Will I receive more benefits if I delay my retirement?

You can decide to continue working full-time beyond retirement age. In that case, you can increase your Social Security benefit in two ways:

  • Each additional year you work adds another year of earnings to your Social Security record. Higher lifetime earnings may result in higher benefits when you retire.
  • In addition, your benefit will be increased by a certain percentage if you delay retirement. These increases, called delayed retirement credits, will be added in automatically from the time you reach full retirement age until you start receiving benefits or reach age 70.

How Much Will Delayed Retirement Benefits Increase My Benefit? 

Year of Birth 
Yearly Rate
of Increase

Monthly Rate
of Increase

1930 
4.5%

3/8 of 1% 

1931-1932 
5.0%

5/12 of 1% 

1933-1934 
5.5%

11/24 of 1% 

1935-1936 
6.0%

1/2 of 1% 

1937-1938 
6.5%

13/24 of 1% 

1939-1940 
7.0%

7/12 of 1% 

1941-1942 
7.5%

5/8 of 1% 

1943 or later 
8.0%

2/3 of 1%

See our calculator to assist you in computing the amount of increase that you may receive in delayed retirement credits.

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