Claiming Social Security at 70 gives you the largest possible monthly check. For anyone born in 1960 or later, full retirement age is 67, and each year you wait past that earns delayed retirement credits of 8%, so a benefit claimed at 70 is 124% of your full amount. A worker with maximum earnings who starts at 70 in January 2027 would receive about $5,358 a month, according to SSA estimates. The trade-off is waiting longer for the first check. Here are the pros, the cons, and a simple way to compare.
How Much More Do You Get by Waiting?
Assume a Primary Insurance Amount (your full-retirement-age benefit) of $2,000 per month and a full retirement age of 67:
| Claiming age | Share of full benefit | Monthly benefit |
|---|---|---|
| 62 | 70% | $1,400 |
| 65 | 86.7% | $1,733 |
| 67 | 100% | $2,000 |
| 68 | 108% | $2,160 |
| 69 | 116% | $2,320 |
| 70 | 124% | $2,480 |
Delayed credits stop at 70, so there is no reason to wait past that age. Cost-of-living adjustments are applied while you wait, and the 2027 COLA is 3.6% per the SSA 2027 fact sheet.
Pros of Claiming Social Security at 70
- The biggest monthly check for life. About 77% more than claiming at 62 in the example above.
- Longevity protection. Social Security is inflation-adjusted income you cannot outlive. A larger base matters most in your late 80s and 90s.
- Bigger COLAs in dollars. Each percentage increase is applied to a larger check.
- A larger survivor benefit. When the higher earner delays, the surviving spouse can inherit that larger amount. See how survivor benefits work.
- Tax planning room. The years between retiring and 70 can be used for Roth conversions or IRA withdrawals at lower tax rates.
Cons of Claiming Social Security at 70
- You need other income to bridge the gap. Savings, a pension or part-time work must cover expenses until 70.
- Health and life expectancy. If you die early, you collect less in total.
- Spousal benefits do not grow. A spouse’s benefit based on your record tops out at 50% of your full-retirement-age amount, so delaying past 67 does not raise it. See how spousal benefits work.
- Medicare still starts at 65. If you are not yet collecting Social Security, you will pay Part B premiums directly.
The Break-Even Age
Using the example above, someone who claims at 62 collects $1,400 a month for eight extra years. Someone who waits until 70 collects $2,480. Ignoring COLAs and investment returns, the 70-year-old’s total catches up around age 80. If you expect to live past your early 80s, claiming Social Security at 70 usually produces more lifetime income. If you have serious health concerns, earlier may make sense.
Who Benefits Most From Waiting?
- The higher-earning spouse in a married couple, because the survivor keeps the larger check.
- People in good health with a family history of longevity.
- Retirees with enough savings or other income to cover expenses until 70.
- People still working in their 60s, who would lose benefits to the earnings test before full retirement age anyway.
Taxes and Your Benefit
Up to 85% of benefits can be taxable, depending on your combined income. Delaying Social Security and drawing from IRAs first can shift some income into lower-tax years. Our guide to how Social Security is taxed in 2026 walks through the thresholds.
How to Decide
- Get your personal estimate at ssa.gov to see your benefit at each age.
- List the income you would use to bridge the gap to 70.
- Consider your health and your spouse’s needs.
- Model your taxes for the years before and after claiming.
Comparing 70 With Full Retirement Age
Waiting from 67 to 70 in the example raises the check from $2,000 to $2,480, an extra $480 a month. You give up 36 months of $2,000, or $72,000. Dividing $72,000 by $480 shows it takes about 150 months, or 12.5 years, of the larger check to make up the difference, so the break-even is around age 82½. COLAs and the value of a larger survivor benefit tilt the math further toward waiting for many married couples.
Working While You Wait
If you keep working in your 60s, delaying is often easy. Before full retirement age, the earnings test withholds $1 of benefits for every $2 you earn above $24,480 in 2026, or $25,560 in 2027. Once you reach full retirement age, the earnings test no longer applies. Our post on working while receiving Social Security explains the details.
Steps to Claim at 70
- Apply online at ssa.gov, by phone, or at a local office, up to four months before you want benefits to start.
- Choose the month you turn 70 as your start date. Benefits are paid the month after they are due.
- Sign up for Medicare at 65 separately, even though you are delaying Social Security.
- Set your federal tax withholding on Form W-4V if you want tax withheld from your checks.
Claiming Social Security at 70 takes planning, but once the decision is made, the process is straightforward.
Frequently Asked Questions
How much more do you get if you wait until 70 to claim Social Security?
If your full retirement age is 67, waiting until 70 gives you 124% of your full benefit, about 77% more than claiming at 62.
Is it better to take Social Security at 67 or 70?
If you are healthy, have other income, and are married with a spouse who would rely on your survivor benefit, 70 often pays off. If you need the income or have health concerns, 67 or earlier may be better.
Do you have to claim Social Security at 70?
No, but there is no extra credit for waiting past 70, so most people should apply by then. You can apply up to four months ahead.
What is the maximum Social Security benefit at 70?
For a worker with maximum taxable earnings who starts at 70 in January 2027, the SSA estimates about $5,358 per month. See our post on the maximum Social Security benefit.
Final Thoughts
Claiming Social Security at 70 is one of the simplest ways to increase guaranteed lifetime income, but it only works if you can comfortably bridge the gap. Run your own numbers, consider your spouse, and coordinate the decision with your tax plan.
Have questions about how this applies to your situation? Book a free consultation with Aric and get answers from a CPA.
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
