What is the maximum percentage increase you can earn through Delayed Retirement Credits by waiting until age 70?

When someone delays their retirement past their full retirement age, they can earn Delayed Retirement Credits, which increase their Social Security benefits. The maximum percentage increase one can receive by delaying retirement until age 70 is 32%.

This benefit accrues at a rate of 8% for each full year they delay beyond their full retirement age, which is typically between ages 66 and 67, depending on their birth year. For individuals who wait until age 70, this can add up to a significant increase over the standard benefit amount, totaling a 32% increase.

This system is designed to incentivize individuals to delay their retirement and can result in a much higher monthly benefit, reflecting the increased value of Social Security benefits for those who choose to wait.