Why there's an unexpected surge in people claiming Social Security. June 12, 2025 12:00 PM ET. ... Social Security retirement claims tend to follow a seasonal pattern each year, ...

According to Social Security data, individual retirement claims rose by 13% in the current fiscal year compared to the same period last year, representing an increase of nearly 320,000 claims.

The Elon Musk-led Department of Government Efficiency’s shakeup of Social Security has triggered a major surge in claims, as older Americans rush to secure their benefits amid uncertainty. Data ...

Social Security retirement claims tend to follow a seasonal pattern each year, and they increase over time with the aging of the population, says Jack Smalligan, senior policy fellow at the Urban ...

Older Americans are rushing to claim Social Security, while young investors are strategically planning for retirement without relying on the program, according to financial advisors.

"A surge in Social Security claims would have an immediate impact as it would add more total beneficiaries sooner than expected and draw on the fund sooner than expected," Gammon explained.

When you claim Social Security earlier, you get a lower benefit for the rest of your life. MCCAHEY: I have a financial advisor, and he was always - 70, 70, 70, he would tell people.

Social Security retirement claims tend to follow a seasonal pattern each year, and they increase over time with the aging of the population, says Jack Smalligan, senior policy fellow at the Urban ...