But new research suggests that women have more to gain than men by postponing retirement and putting off Social Security claims. Social Security payments are based on workers’ highest 35 years of wages, adjusted for inflation. Overall, women who delay taking Social Security until 70 increase their monthly payment by 88% over their benefit at age 62, compared with 82% for men. Two-thirds of unmarried women, including widows, above age 65 rely on Social Security for more than half their income, Ms. Pareto says. Appeared in the June 12, 2017, print edition as 'Women Gain Much By Delaying Social Security.'

Source: Wall Street Journal June 12, 2017 02:03 UTC