Pre-COVID trends in Social Security claiming

Munnell, Alicia Haydock, and Anqi Chen. “Pre-COVID trends in Social Security claiming”. Issue in Brief 21-9, Chestnut Hill, Mass.: Center for Retirement Research at Boston College, May 2021. http://hdl.handle.net/2345/bc-ir:109245.
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Abstract

The brief's key findings are: (1) This study provides a pre-COVID baseline on Social Security claiming. (2) The percentage of all initial claimants who are age 62 shows a steady decline over the past two decades, interrupted only briefly by the Great Recession. (3) However, a better metric to capture claiming behavior over time - when the population is aging - is the share of all workers turning age 62 who claim at 62. (4) This measure, based on unpublished Social Security data, shows a steeper drop, with just 1 in 4 claiming at 62 in 2019. (5) In addition, workers who delay are claiming in their mid-60s or later, which is good news for their retirement security.

Title
Pre-COVID trends in Social Security claiming
Author
Munnell, Alicia Haydock
Chen, Anqi
School
Carroll School of Management
Discipline
Finance
Center
Center for Retirement Research
Genre
report
Date Issued
May 2021
Publisher
Center for Retirement Research at Boston College
Series Title
Issue in Brief
Series Number
21-9
Persistent Link
http://hdl.handle.net/2345/bc-ir:109245
Use Restrictions
These materials are made available for use in research, teaching and private study, pursuant to U.S. Copyright Law. The user must assume full responsibility for any use of the materials, including but not limited to, infringement of copyright and publication rights of reproduced materials. Any materials used for academic research or otherwise should be fully credited with the source. The publisher or original authors may retain copyright to the materials.
Subject
Social Security

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