A delayed retirement has significant implications to the calculation of your Social Security benefit calculation. A delayed retirement means you claim your Social Security benefits before you reach normal retirement age. For every month you postpone retirement past your normal retirement age, your Social Security retirement benefit increases by an amount that varies based on the year you were born.
Below is a list of possible birth years followed by the amount your monthly benefit would increase for each month you delay retirement past your normal retirement age:
- 1917-24: 0.25%
- 1925-26: 0.29%
- 1927-28: 0.33%
- 1929-30: 0.38%
- 1931-32: 0.42%
- 1933-34: 0.46%
- 1935-36: 0.50%
- 1937-38: 0.54%
- 1939-40: 0.58%
- 1941-42: 0.63%
- 1943 & later: 0.67%
