More older Americans are claiming their Social Security benefits earlier, a potentially alarming trend that could significantly reduce the income many rely on in their golden years.

As of May, individual retirement claims were up 13 percent in the current fiscal year compared to the same period last year, an increase of nearly 320,000 claims, according to the latest Social Security data.

To put the recent surge in perspective: From 2012 to 2024, retirement claims rose by an average of just 3 percent per year, according to an analysis by the Urban Institute, a research group.

Part of the recent uptick is due to more retirees claiming Social Security benefits earlier, a choice that permanently reduces their monthly checks if done before full retirement age.

Jack Smalligan, a senior policy fellow at the Urban Institute, described the increase in earlier claims as "disconcerting" because it can impact people's "long-term retirement security."

"For most individuals, delaying the time that they claim Social Security is a smart retirement decision," Smalligan said.

Is Trump the reason more Americans are claiming Social Security?

While demographic factors, such as an aging population, have contributed to the rise, increased concern over the Trump administration's handling of the system may also help explain the surge.

Social Security........

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