Social Security claiming decision of married men and widow poverty

We find that most husbands claim Social Security before the ages that maximize the expected present value of their benefits. Although household benefits are only slightly reduced, the expected present value of widows' benefits reduces by 17.7%, increasing their risk of poverty.

► Most husbands claimed Social Security earlier than their maximizing claim age. ► Actual claiming patterns reduce the expected present value (EPV) of total household benefits by only 3.1%. ► This small decrease masks a 17.7% reduction in the EPV of widow's survivor benefits. ► Such significant reduction exposes the surviving widows to the risk of poverty.