How To Increase Your Social Security Benefit Payments

Key Takeaways

• You can voluntarily suspend Social Security benefits anytime between full retirement age and age 70 to earn 8% annual delayed retirement credits—the equivalent of simple interest on your benefits
• Voluntary suspension lets you reverse or adjust an early claiming decision without the normal Social Security restrictions, giving you a window to change your filing strategy
• Suspension can last from 1 to 3 years or longer up to age 70, but there's no benefit to suspending past age 70, so that's your hard deadline
• Visit the dedicated voluntary suspension page on Social Security.gov to learn if this strategy fits your situation, especially if you have good family longevity history
• Voluntary suspension is personalized to your circumstances—use it if you claimed early by mistake or without full information, and now want to maximize lifetime benefits