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The Economic Times

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This common Social Security mistake can shrink monthly benefits by $622

Social Security benefits can drop by $622 per month in 2026. That sharp cut hits retirees who claim Social Security early at age 62 instead of waiting for full retirement age (67), according to the Social Security Administration. The average benefit of $2,075 falls to about $1,453. That equals a 30% reduction. The loss continues for life. Delaying benefits can increase payments and protect long-term retirement income. Timing your Social Security claim matters.

9 Mar 2026 11:29 pm