Scoop: Top Senate Dems propose emergency Social Security payment boost

[madville]

30. My dad waited until 70 to start taking his

For two main reasons, one he was still working so it would have gotten penalized to nothing anyway.

Second reason was that any amount of time you delay starting it past retirement age, (66 in his case) up to age 70, it significantly increases the benefit. My parents are getting around $6300 a month now because he waited, it’s a couple of thousand more a month than if they had taken it a few years earlier.

So yes, there are some people that delay drawing it in order to eventually receive higher benefits. A temporary increase of $200 a month isn’t going to change most peoples’ plan or strategy though in that regard.