2015 Social Security Increase – Another Reason to Delay Benefits?

Monthly Social Security and Supplemental Security Income (SSI) benefits will increase 1.7 percent in 2015, the Social Security Administration announced last week. This historically small adjustment for the third straight year translates to about an extra $20 per month for the average recipient.

If you’re thinking of delaying benefits, you’ll like these statistics:  Social Security benefits begun at age 70 are 76% greater than benefits taken at age 62.  Spousal benefits at 66 are 43% larger than those taken at age 62.