Social Security Questions? Ask a Social Security Expert
Hi from Just Answer. I'm PDtax, and can clarify what you heard. It's not what you think.
The 32% amount was the key for me. If you claim your benefit at age 62, it is approximately 71% of your full retirement age (FRA) benefit. If your FRA benefit would have been $1,000, your benefit at age 62 would be approximately $710.
If you wait to claim past age 66 (FRA), your benefit grows by 8% per year until you reach age 70. That's the 32% that I believe you heard about. Using the same example, your benefit at age 70 would be $1,320 per month.
There is no bonus for current recipients, only an example of how deferring your benefit claim can add to your monthly payment. Sorry I don't have a better outcome to report.
Thanks for asking at Just Answer. Positive feedback is appreciated. Please rate my assistance using the rating scale found on your screen. I'm PDtax.