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Not sure about the 62 to 65 period, but in the 65 to 70 period, the 8% increase does not compound. 8% of the full benefit (at 65 to 67, depending) is added each year. If that is followed for the first period too, the increase would be 64%, not 76%.
Post: Why Retire at 65?
Link to comment from October 14, 2021
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Not sure about the 62 to 65 period, but in the 65 to 70 period, the 8% increase does not compound. 8% of the full benefit (at 65 to 67, depending) is added each year. If that is followed for the first period too, the increase would be 64%, not 76%.
Post: Why Retire at 65?
Link to comment from October 14, 2021