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Delayed Retirement Benefits

There are three standard options for retirement benefits through the Social Security Administration (SSA). All are based date of birth and age at application:

  • Early Retirement – eligibility at age 62
  • Full Retirement – eligibility at age 65 or 66, if you were born before 1960, OR at age 67, if you were born after 1960
  • Delayed Retirement – any time after you reach the age of full retirement

If you receive Social Security Disability (SSD) benefits, you can apply for early retirement, but you are not eligible for delayed retirement benefits.

Early retirement is beneficial for some applicants and may increase the amount of your monthly benefit payments.

Workers that delay retirement can increase the amount of their monthly benefits payments through receiving “Delayed Retirement Credits.” These credits accumulate based on how many months workers delay applying for retirement benefits past the age of full retirement (age 65 to 67).

If you receive SSD benefits, you do not have the option to choose delayed retirement benefits. Instead, the SSA automatically transitions your benefits from SSD to retirement benefits once you reach the age of full retirement.