Personal Finance

Social Security Claims Soar in First Half of Fiscal 2025

Analysis shows that more Americans are filing for retirement benefits earlier, which could hurt their long-term retirement security.
Social Security Claims Soar in First Half of Fiscal 2025
A woman stands outside a Social Security Administration building in Burbank, Calif., on Nov. 5, 2020. Valerie Macon/AFP via Getty Images
Mary Prenon
Mary Prenon
Freelance Reporter
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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.

Mary Prenon
Mary Prenon
Freelance Reporter
Mary T. Prenon covers real estate and business. She has been a writer and reporter for over 25 years with various print and broadcast media in New York.