Social Security Retirement and Survivor Benefits Explained
When to claim Social Security is the single biggest financial decision most people make in retirement — and it's largely irreversible. Add survivor benefits, Medicare timing, and pension protections, and there's a lot riding on getting it right. Here's what each program does and how to make it work for you.
Full retirement age
67
For anyone born in 1960 or later. Delaying past FRA adds ~8%/year until 70.
Lump-sum death payment
$255
A one-time payment to an eligible surviving spouse or child.
Key Retirement & Survivor Programs
The two decisions people most often get wrong
- →Claiming at 62 vs. 70 can mean a difference of hundreds of thousands of dollars over a lifetime. It's the single biggest retirement decision most people make — run your numbers before you claim.
- →You can claim survivor benefits first and switch to your own retirement benefit later (or vice versa). Many widows and widowers don't know this — and choosing the order can add up over the years.
Trusted Resources
Trusted tools to help you claim what you've earned
"Get What's Yours" (Amazon)
The bestselling guide to Social Security — how to time your claim and get the most out of your retirement and survivor benefits.
View on Amazon →*LawDepot — Last Will and Testament
Build a state-specific will online, step by step. Naming beneficiaries is the companion decision to timing your Social Security claim — both determine what your family actually receives.
Create your will →*LawDepot — Power of Attorney
Name someone you trust to handle finances or healthcare decisions if you can’t. Worth having in place before it’s needed — a POA can’t be created once someone is incapacitated.
Create a power of attorney →*
* Affiliate disclosure: GovSifter may earn a commission from links above. This does not affect program listings or editorial content.
Social Security claiming questions, answered
How much does claiming Social Security at 62 reduce my benefit?
If your full retirement age is 67, claiming at 62 permanently reduces your monthly benefit by 30% — a $1,000 benefit becomes $700. The reduction is 5/9 of 1% for each of the first 36 months you claim early, plus 5/12 of 1% for every additional month beyond that. If your full retirement age is 66, claiming at 62 is a 25% reduction. The reduction is permanent; it does not go away when you reach full retirement age.
What is my full retirement age for Social Security?
It depends on your birth year. For 1943 through 1954 it is 66. It then rises by two months per year: 66 and 2 months for 1955, 66 and 4 months for 1956, 66 and 6 months for 1957, 66 and 8 months for 1958, and 66 and 10 months for 1959. For anyone born in 1960 or later it is 67. This schedule is set in statute at 42 U.S.C. § 416(l) and does not change from year to year.
How much more do I get if I wait until 70?
You earn delayed retirement credits of 8% per year — two-thirds of 1% for each month you wait past full retirement age. With a full retirement age of 67, waiting until 70 is 36 months of credits, or 24% more: a $1,000 benefit becomes $1,240. With a full retirement age of 66 the increase is 32%. Credits stop accruing at 70, so there is no benefit to waiting beyond your 70th birthday.
How much do Social Security survivor benefits pay?
Survivor benefits are a percentage of the deceased worker’s benefit rather than a fixed amount. A surviving spouse who has reached full retirement age can receive up to 100% of what the deceased was receiving or entitled to receive. A surviving child receives three-fourths — 75%. A surviving spouse caring for the deceased’s child also receives a benefit — while that child is under 16, or at any age if the child is disabled. Because it is a percentage of an individual earnings record, no single dollar figure applies to everyone.
What is the Social Security death benefit?
A one-time lump-sum death payment of $255, paid to an eligible surviving spouse who was living with the deceased, or otherwise to a spouse or child eligible for benefits on the deceased’s record. It is set in statute and is not adjusted for inflation, which is why it has stayed at $255 for decades. There is a time limit to apply — generally two years from the date of death.
Figures per 42 U.S.C. § 416(l) (full retirement age), § 402(q) (early-claiming reduction), § 402(w) (delayed retirement credits), and § 402(d),(e) (survivor percentages). Verified 2026-07-28.
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Social Security Claiming Age Calculator
Deciding when to take Social Security is worth more than almost any other retirement choice you'll make — and once you claim, it's largely locked in. Enter your birth year and the benefit estimate from your SSA statement to see what you'd receive at every age from 62 to 70.
Sets your full retirement age: 67
Find this on your SSA statement at ssa.gov/myaccount ↗
Earliest is 62; credits stop at 70.
Estimated monthly benefit if you claim at 67
$2,000 /month
That is your full benefit — age 67 is your full retirement age.
Figures current as of 2026.
This is an estimate for educational purposes only. Your actual Social Security benefit depends on your full earnings history and other factors. These figures use official SSA reduction and delayed-credit formulas but are not a guarantee of your benefit amount. For your official estimate, create an account at ssa.gov/myaccount or contact the Social Security Administration directly.
Every claiming age, side by side
When does waiting pay off?
Claiming early means smaller checks for more years; waiting means bigger checks for fewer years. These are the ages at which the total dollars received catch up.
Break-even compares total dollars received in today's dollars. It does not account for annual cost-of-living adjustments, taxes, or any investment of early payments. Because Social Security benefits are adjusted for inflation each year, actual break-even ages may differ.
Source: Based on Social Security Administration benefit formulas. Full retirement age and reduction/credit rates per ssa.gov benefit reduction ↗ and ssa.gov delayed retirement credits ↗. Rates are set in statute at 42 U.S.C. § 416(l) (full retirement age), § 402(q) (early-claiming reduction), and § 402(w) (delayed retirement credits). Figures current as of 2026.