Deciding when to claim Social Security can be nerve-wracking because it’s so permanent. If you start benefits as soon as possible at age 62, your monthly checks will be about 76% lower than if you wait to get the maximum benefit at age 70 — and your options for reversing course are extremely limited.
But there are a few scenarios in which you can get a do-over. Here are four ways you can undo your decision and get a bigger Social Security benefit.
1. Withdraw your application
Social Security will allow you to cancel your application if you started receiving benefits less than 12 months ago. You’ll need written consent from anyone in your family who’s receiving benefits based on your application. You’re also required to repay Social Security for any benefits you and your family received, including money you had withheld from your checks for taxes and Medicare premiums.