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Analysis shows that more Americans are filing for retirement benefits earlier, which could hurt their long-term retirement security.
A woman stands outside a Social Security Administration building in Burbank, Calif., on Nov. 5, 2020. Valerie Macon/AFP via Getty Images
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New data from the Social Security Administration (SSA) indicate that a record number of Americans have been dipping into their retirement accounts during the first seven months of fiscal year 2025.
Filings for retirement benefits from October 2024 to April increased by 276,572 from the same period in fiscal 2024, with more seniors claiming Social Security at earlier ages, the data show.
