Will my Social Security PIA increase between age 62 and FRA if I stop working completely?

Yes, if you stop working at 62, your PIA will only increase with COLA adjustments until you reach your FRA. There's no other mechanism to increase your PIA without additional earnings. Whether you should take benefits at 62 really depends on your overall financial situation, health status, and life expectancy. Remember that claiming at 62 means a permanent reduction of about 30% compared to FRA. Suspending at FRA to earn DRCs might be smart if you can afford it and expect to live long, as each year you delay past FRA increases your benefit by 8% until age 70.

i took mine at 62 and havent regretted it for a second. lifes too short to wait around for moeny that might not even keep up with real inflation anyway

This is something I've researched extensively for my own retirement planning. Once you stop working, your PIA will indeed only increase by annual COLA adjustments. But here's something important to understand: your PIA is calculated based on your highest 35 years of indexed earnings. If you've worked less than 35 years, or if some of your earlier years have very low earnings, stopping work means those zeros or low-earning years will remain in your calculation. As for claiming strategy, I'd suggest running calculations with different scenarios. The SSA website has a good calculator, or you can use more sophisticated ones online. Generally speaking, if you have health issues or short family longevity, claiming earlier makes more sense. If you're healthy with long-lived relatives, waiting provides insurance against outliving your savings.

I was in a similar situation and I waited until 65 to claim because I wasn't sure if I might go back to part-time work. But then I got bored in retirement and took a consulting gig that pushed me over the earnings limit! Such a headache dealing with SSA to pay back benefits. Make sure you really are done working if you claim early!!!

I tried calling Social Security like 10 times to ask this EXACT question and kept getting disconnected or put on hold forever! It's IMPOSSIBLE to reach them! I finally found this service called Claimyr (claimyr.com) that got me connected to a real SSA agent in under 5 minutes. They have a video showing how it works: https://youtu.be/Z-BRbJw3puU. The agent I spoke with actually walked me through my specific situation with calculations for claiming at different ages. MUCH more helpful than trying to figure it out alone.

One thing nobody has mentioned yet is the tax implications. If you have other income sources (pensions, 401k withdrawals, etc.), starting Social Security early can push you into a situation where up to 85% of your SS benefits become taxable. This is another factor to consider in your decision. Also, if you're married, the implications for survivor benefits should be part of your calculation. If you're the higher earner, your spouse would receive your benefit amount as a survivor benefit if it's higher than their own. The longer you delay claiming, the higher that potential survivor benefit would be.

Based on the information you've provided, here are some specific considerations for your situation: 1. With 33 years of solid earnings, you're close to the 35-year calculation period. Any additional years of work would likely replace zeros or very low earning years in your calculation. 2. Since your recent earnings are your highest at $85,000, even working part-time for a couple more years could potentially increase your PIA beyond just COLA adjustments. 3. The reduction for claiming at 62 versus 67 is permanent and substantial. 4. If your health is good and you have family history of longevity, the mathematics generally favor waiting. 5. If you need the income now, consider whether a part-time job plus limited 401(k) withdrawals might bridge you to a later claiming age. Have you run a break-even analysis to see at what age the higher monthly benefit from waiting would exceed the total benefits received from claiming early?

A few additional points to consider: 1. If you're completely done working, your PIA will only increase with COLA adjustments between 62 and FRA. 2. However, if you have less than 35 years of earnings, even working part-time could improve your PIA by replacing zeros in your calculation. 3. The reduction for early claiming is calculated monthly - approximately 5/9 of 1% for each month before FRA (up to 36 months) and 5/12 of 1% for each additional month. So even waiting a few months can make a difference. 4. If you claim at 62 but later regret it, you do have a one-time option to withdraw your application within 12 months of claiming. You'd have to repay all benefits received, but it essentially gives you a do-over. 5. Another strategy is to claim at 62 but suspend at FRA to earn delayed credits until 70. This can be useful in certain situations. For personalized advice, I'd recommend speaking directly with a financial advisor who specializes in Social Security claiming strategies.

dont forget those crooks in congress could change the rules anytime!! bird in hand better than 2 in bush thats what my grandpa always said

As someone who recently went through this exact decision process, I can share a few practical insights. First, you're absolutely right that your PIA will only increase with COLA adjustments once you stop working completely. However, given that you mentioned having 33 years of solid earnings with 2 zero years in your calculation, even working part-time for just 2 more years could potentially increase your benefit significantly by replacing those zeros. I'd strongly recommend using the SSA's detailed calculator at ssa.gov/benefits/calculators/ to model different scenarios. Input your actual earnings history and compare claiming at 62 versus waiting until FRA or even 70. The calculator will show you the break-even ages and total lifetime benefits under different assumptions. Also consider your complete financial picture - with a $1,400 pension and 401k, you might have more flexibility than you think. Sometimes bridging with limited 401k withdrawals for a few years can be worth the permanent increase in Social Security benefits. The key is running the numbers for YOUR specific situation rather than relying on general rules of thumb.

I'm in a similar situation at 60 and have been researching this extensively. One thing that might help your decision is understanding the earnings test threshold more clearly. If you do decide to work part-time after claiming at 62, you can earn up to $22,320 in 2025 without any reduction in benefits. That's about $1,860 per month, which could be achievable with light consulting work in healthcare. Given your 33 years of solid earnings, I'd seriously consider the part-time work option for at least 2 years to replace those zeros. Healthcare consulting or per diem work might be less stressful than your previous full-time role while still boosting your PIA calculation. You mentioned being burned out after 35 years - maybe a completely different pace and schedule would feel manageable? Also, don't underestimate the psychological benefit of having that monthly Social Security payment coming in, even if it's reduced. Sometimes the peace of mind is worth more than the mathematical optimization, especially if you're dealing with burnout and health concerns.

One aspect that hasn't been fully addressed is the timing flexibility you have with your decision. Since you're still 3 months away from 62, you have time to gather more detailed information and run comprehensive analyses. I'd suggest creating a timeline with specific milestones: 1) Get your official earnings record from SSA to confirm exactly which years have zeros or low earnings, 2) Use the SSA calculator with your actual numbers to model different claiming scenarios, 3) Research part-time opportunities in healthcare that would fit your desired lifestyle while maximizing the earnings that count toward your PIA calculation. Also consider that the healthcare field has evolved significantly - there are now many remote consulting opportunities, telehealth positions, and flexible per diem roles that might feel completely different from your previous full-time hospital work. You could potentially replace those zero years while working on your own terms. Remember, this decision affects potentially 20-30 years of monthly payments, so taking a few extra months to thoroughly analyze your options could be one of the most valuable investments of time you'll ever make.

For remote healthcare consulting opportunities, I'd suggest looking into several areas that have really expanded post-COVID: telehealth platforms like Teladoc, MDLive, and Amwell often need experienced healthcare professionals for consulting roles; medical writing and case review work for insurance companies or healthcare tech companies; remote utilization review positions; and clinical advisory roles for healthcare startups. Many of these can be done completely on your schedule. LinkedIn has become a great resource for these types of flexible healthcare positions - search for "remote healthcare consultant," "telehealth," or "clinical advisor" roles. You might also reach out to former colleagues who've made similar transitions - the healthcare network is often the best source for finding these opportunities. Given your 35 years of experience, you'd likely be very competitive for these positions, and many pay well enough that working just 15-20 hours per week could easily keep you under that $22,320 earnings test threshold while meaningfully improving your PIA calculation. The key is finding something that leverages your expertise without the physical and emotional demands of direct patient care.

I've been following this discussion with great interest as I'm facing a similar decision in a few years. What strikes me about your situation is that you have several advantages - good longevity genes, recent high earnings, and valuable healthcare expertise that could translate well to consulting work. One additional consideration I haven't seen mentioned: have you looked into whether your current employer offers any phased retirement options? Some healthcare systems now offer reduced-hour positions or emeritus consulting roles for experienced professionals. This could be an easier transition than starting completely fresh with new employers while still helping you replace those zero years. Also, regarding the break-even analysis, don't forget to factor in the investment potential of early benefits. If you claim at 62 and invest those payments conservatively, that could change your break-even calculations compared to just comparing raw benefit amounts. The remote healthcare consulting market really has exploded - I know several retired nurses and physicians who are doing very well with telehealth and clinical review work. Your 35 years of experience is exactly what these companies value most.