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CRR Studies Trends of Older Workers After Claiming Social Security
Recently, the Center for Retirement Research (CRR) at Boston College published its issue brief, Who Works After Claiming Social Security? The brief examines the trends of older workers who claim Social Security while working at the same time. Specifically, the issue brief: 1) provides background information on Social Security claiming and retirement; 2) examines the share of individuals who ever work after claiming their benefits; and 3) explores the demographic and employment characteristics of these worker-beneficiaries.
The findings indicate that:
- About 40% of individuals ages 62 to 75 do some work after claiming Social Security benefits.
- The majority of individuals are lower lifetime earners who claim Social Security benefits around age 62 and then work on a part-time basis.
- About 29% of all individuals claim as early as possible and use Social Security income to supplement reduced earnings and have limited capacity to delay claiming.
- Nearly 13% have greater financial flexibility and often work full time after claiming near the full retirement age which suggests they may likely postpone claiming to increase their monthly Social Security benefits.
The brief is available here.