Overview
- Schroders’ 2025 U.S. Retirement Survey reports 87% of nonretirees worry about generating retirement income, with 44% planning to file before full retirement age and only 10% intending to wait until 70.
- Top stated reasons for early filing include wanting access to funds (37%), concern the program could run out of money (36%), and needing income sooner (34%).
- Delaying benefits boosts monthly checks, with payments at age 70 roughly 24% higher than at full retirement age and the average 70-year-old receiving about $807 more per month than a 62-year-old, per SSA data.
- The Social Security Board of Trustees projects trust-fund depletion in 2034, which could leave about 80% of scheduled benefits payable without congressional action.
- Rules for working while receiving benefits will change in 2026, allowing people below full retirement age to earn more before payments are reduced, as the SSA adjusts earnings limits.