Social Security filers get plenty of options for claiming their monthly benefits. You can opt to sign up at the earliest age of 62 if you're willing to accept a reduced benefit for what will generally be a lifelong basis.

Another option is to wait for full retirement age (FRA) to arrive and claim Social Security then. FRA is age 67 if you were born in 1960 or later, and it's when you're entitled to your full Social Security benefit based on your personal wage history.

But believe it or not, your options for claiming Social Security don't end at FRA. If you delay your filing past that point, you can snag an 8% boost to your monthly Social Security benefit up until the age of 70. And that boost will remain in effect for the rest of your life.

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Source Fool.com