The impact on retirement benefits of different Social Security claiming ages

Benefits will rise by 7-8 percent a year from age 62 to your full retirement age (FRA), and will rise at the rate of 8 percent a year from FRA to age 70.

You can calculate the impact of delaying your benefits. If you open an online My Social Security account, it will provide your formal earnings history and project your Social Security benefits at different claiming ages. Using these projections, you then can calculate what your benefits will be at specific claiming ages.

The percentage impact of claiming between age 62 and FRA are explained here; the benefits of delaying benefits from FRA until as late as age 70 are explained here.