Waiting to claim Social Security past full retirement age is not required, but it is one of the most reliable ways to increase guaranteed lifetime income.
How the credit works
For each year you delay past full retirement age, up to 70, your benefit grows by roughly 8%.
Is waiting right for you?
Delaying tends to make sense if you are healthy, have other income, or want to maximize a survivor benefit.
If you need income sooner, claiming earlier may be the more practical choice.