If you take it at 62 and have a reduced benefit because of your income, then it will increase once you’re at full retirement age. That is the exception that he was likely referring to.
Don’t think that’s correct.
I’ve always heard if you take it at 62 your benefit is fixed other than cost of living increases. You also take a hit if you continue to work if you take the benefit before your full retirement age. I waited till my full retirement age of 66 years and 8 months because I worked until I was 66.
This is correct.
I was going to take mine at 62, but I am waiting until I turn 65, mainly because I had different options to take my pension and I took the high/low option where I got more money from 62-65 and then it drops down at 65, which is when I'm going to take my SS. It will still be a raise, because 65 SS + reduced pension is considerably more than my pension was between 62-65. Plus Mrs. Irish is taking it at 62 and get's her first check next month.
All that together is plenty for us to live on without having touch our savings or retirement. So that's a blessing.
