The age at which a retiree claims Social Security is unlikely be to entirely random. In theory, the decision should be driven by such objective factors as the households’ ability to fund a bridge and delay claiming, and such subjective factors as expectations around longevity.
I was interested in exploring how longevity was related to claiming ages, so I reviewed data from the Employee Benefit Research Institute and Greenwald Research’s 2025 Retirement Confidence Survey. And there is a clear relation: Individuals who claimed Social Security retirement benefits at later ages report being in better health. Additionally, those who claim at age 70 would be expected to live at least two years longer than those who claim at age 62, on average.
While these results are not necessarily a surprise, they provide important context on whether households are making optimal claiming decisions that draw on longevity being appropriately considered in the process.
Inside the Numbers
The EBRI/Greenwald Retirement Confidence Survey, now in its 35th year, is the longest-running survey of its kind. The 2025 survey, measuring worker and retiree confidence about retirement, was conducted online from Jan. 2 to Feb. 3 among respondents aged 25 and older. The survey includes a general population of 2,047 Americans, of whom 1,005 are retired.
For the analysis, I include respondents who describe themselves as being retired, are age 70 or older and who note claiming Social Security benefits between 62 and 70. A total of 472 respondents meet the required criteria. All calculations in the analysis include weights.
The next exhibit includes information about the distribution of noted claiming ages within the survey dataset, as well as from the Social Security Administration (for the year 2024), for various claiming ages.
Distribution of Claiming Ages for Social Security Retirement Benefits
The distributions of claiming ages are relatively similar between the Social Security and survey respondents. The distribution is also somewhat bimodal, with a cluster at the earliest claiming age (62) and around 65 and full retirement age.
Relatively few retirees delay claiming until 70 (or later) — only about 9%, according to the Social Security Administration. This is despite delayed claiming being a widely touted strategy among retirement researchers as a way to improve retirement outcomes. Not only are Social Security retirement benefits directly linked to inflation — something that no other annuity or guaranteed lifetime income product offers — but they also are also tax advantaged and can provide attractive spousal survivor benefits.
There are a variety of reasons why relatively few retirees delay until 70. Many simply can’t afford to delay benefits past retirement, while others may find the opportunity to receive benefits as early as possible too tempting to pass up.
One factor that should be considered when claiming Social Security retirement benefits is health, since longevity is positively correlated with the expected benefits of delayed claiming.
The next exhibit includes information about distribution of the current self-reported health of respondents, grouped by their Social Security claiming age. There are five possible health levels: poor, fair, good, very good and excellent. And while the subjective health estimate is current, rather than when benefits were claimed, there is a clear trend: Respondents who claim earlier report being less healthy than those who claim later. For example, only 44% of respondents who claimed at age 62 report being in good or excellent health versus 75% of these who claimed at 70.
Subjective Health Estimates by Social Security Claiming Age
There is a positive relation between factors like subjective health estimates and income to mortality outcomes as demonstrated in earlier research. The effect of income on expected longevity outcomes, in particular, is becoming especially pronounced.
Using a Gompertz mortality model developed in previous research, the differences in life expectancies can be estimated for those claiming at different ages based on differences in subjective health and total household income. The differences in expected longevity by Social Security claiming age are included in the next exhibit.
Differences in Expected Longevity by Social Security Claiming Age
The differences in life expectancies are relatively striking, where respondents who claim at age 70 would be expected to live at least two years more than those claiming at 62. This strongly suggests that people who delay claiming are more likely to live longer than those who claim at earlier ages and are appropriately considering health when deciding when to claim.
Getting Claiming Decisions Right
There is no one Social Security claiming age that is right for everyone. And while research suggests that delayed claiming is typically the smart move, retirees should consider their individual situation when making the decision.
As households incorporate longevity into the claiming decision, that also means that many retirees who claim at earlier ages could be making the “right” decision from a pure expected value perspective.
Providing access to resources to help retirees make more informed decisions around Social Security would likely further improve claiming behavior.
David Blanchett is head of retirement research at Prudential and a portfolio manager at PGIM.
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