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Christopher B, Esq.
Christopher B, Esq., Attorney
Category: Social Security
Satisfied Customers: 2677
Experience:  associate attorney
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What percentage of the monthly payment of social security

Customer Question

What percentage of the monthly payment of social security does a recipient lose if she starts at the age of 65 vs 66 and for how long?
Submitted: 10 months ago.
Category: Social Security
Expert:  Christopher B, Esq. replied 10 months ago.

My name is***** and I will be helping you with your question today. This is for informational purposes only and does not establish an attorney client relationship.

From the social security website: https://www.ssa.gov/planners/retire/retirechart.html

"If you start your retirement benefits at age 62, your monthly benefit amount is reduced by about 30 percent. The reduction for starting benefits at age 63 is about 25 percent; 64 is about 20 percent; 65 is about 13.3 percent; and 66 is about 6.7 percent."

So you will lose 13.3% permanently. Although you can suspend your benefit at full retirement age and gain about 8% per year from age 66-70.

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