Most retirees depend on Social Security to meet their cash needs, so it's important to make sure that you're getting the most out of your monthly payouts. Unfortunately, there's not a ton of flexibility to change your benefit amount as you get closer to retirement.

However, there are some key decisions that you can make to boost your monthly Social Security payout. Make sure that you're aware of the factors that determine retirement benefits, and take full advantage of all forms of payment available to you. Here are three things to keep in mind.

The age at which you start taking Social Security benefits is one of the biggest determinants of your benefit amount. Generally, the longer you wait to take retirement income, the larger each monthly check will be. Full retirement age (FRA) refers to the age at which someone can receive their full benefit, based on the amount paid into the system over their working life. The FRA has risen over time, but it's 67 years old for people retiring today.

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Source Fool.com