Senators call for changes to help encourage retirees to claim Social Security benefits later
There are various reasons why retirees claim at the earliest possible age, the senators note, including an inability to work, financial shocks, liquidity constraints, life expectancy or the desire to pass money on to heirs.
Some claimants who have the capacity to wait even six months to five years longer may not be doing so because they don't "have adequate information to make an informed choice," said Emerson Sprick, a senior economic analyst at the Bipartisan Policy Center.The lawmakers are seeking to change the language the Social Security Administration uses to better convey the advantages of waiting to claim benefits.
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