AARP Urges 50+ Workers to Set Up Social Security Accounts as 40% Lack Access
Updated
Updated · News10NBC · Sep 7
AARP Urges 50+ Workers to Set Up Social Security Accounts as 40% Lack Access
1 articles · Updated · News10NBC · Sep 7
Summary
About 40% of Americans 50 and older still have not signed up for a Social Security online account, prompting AARP to urge them to do so now.
The account lets users review lifetime earnings and estimate benefits at different claiming ages, helping them weigh retirement timing before filing.
AARP said signing up takes less than 10 minutes after identity verification, and the payoff can be significant: claiming at 62 cuts benefits by 30% versus full retirement age.
Waiting until 70 can raise monthly benefits by 77% compared with claiming at 62, while taking benefits at 64 instead of 65 could cost roughly $300 a month in one example.
The push also highlights broader concern over the Social Security trust fund, as workers and employers each contribute 6.2% of wages into the system.