The Social Security Administration saw a sudden surge in people claiming their Social Security benefits. The study revealed that this spring, a sudden increase in the numbers was noted. The number of beneficiaries went up by 18% compared to last year during the same time.
Social Security benefits are a crucial source of income for many retirees. Many families across the country rely heavily on the benefits. The benefits have proved to be even more crucial for retirees now, given the high cost of living and inflation.
A senior policy fellow at the Urban Institute recently shared how the number of people opting to claim their Social Sesocicurity has increased drastically. In the months of January and May, 18% more people claimed their social security benefits compared to last year.
Jack Smalligan spoke about how the sudden surge could be cause for worries, “because for most individuals, it’s financially smart for them to postpone claiming as long as they’re financially able to.” If an individual decides to hold off on claiming their benefits, they grow with time.
“The question I have is, are these largely people who were planning to retire like six months from now, who have accelerated by a short period of time?” Mr. Smalligan questioned. The second possibility he spoke about was people making a “fundamental shift” in their retirement plans.
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— Social Security (@SocialSecurity) May 23, 2025
Social Security works on the payroll tax model. When an individual works throughout are employed through their life, the employee and employer both pay the tax. An individual’s benefits might vary from how much they paid into the system during their working years.
62 is the minimum age retirees can start climbing their taxes. 66-67 years is considered to be the full retirement age. At 70, a person’s Social Security benefits stop increasing. It is advised that a person usually wait for as long as they can before claiming their benefits.
Bill Armstrong is a Colorado native who, amongst those who decide to start claiming their benefit as soon as they reach 62. The Berthoud man spoke about how, after much thought, he “recently decided it was in my best interest to retire.”
Checks and money are arriving on these dates for Social Security, SSDI, SSI in the month of June. This is a video I recently posted on the Blind to Billionaire YouTube channel discussing the details and the exact dates. pic.twitter.com/h2WMA8GIir
— Blind to Billionaire (@BlindtoBillion1) June 8, 2025
Armstrong worked in the IT sector during his working years. He lost his job and was also diagnosed with prostate cancer. When he tried to apply for a new job, all he was met with was rejection. The 62-year-old shares how when Trump got elected as President, he decided to start claiming his Social Security benefits.
“I’m battling cancer, I’m married with a spouse, I’m single-income. And I decided I better get in the system before they move that age higher,” he shared. He went on to note how he has paid into the system for 42 years. “We feel like that may be taken away from us, so we better get it while we can,” he concluded.
