Why Do Married Men Claim Social Security Benefits So Early? Ignorance or Caddishness?

Steven Sass (), Wei Sun () and Anthony Webb ()

Working Papers, Center for Retirement Research at Boston College from Center for Retirement Research

Abstract: Most married men claim Social Security benefits at age 62 or 63, well short of both Social Security’s Full Retirement Age and the age that maximizes the household’s expected present value of benefits (EPVB). This results in a loss of less than 4 percent in household EPBV. But essentially the entire loss is borne by the survivor benefit, falls nearly 20 percent. As many elderly widows have very low incomes, early claiming by married men is a major social problem.

Pages: 51 pages
Date: 2007-10, Revised 2007-10
New Economics Papers: this item is included in nep-age
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