Does it pay to delay social security

@article{Shoven2014DoesIP,
  title={Does it pay to delay social security},
  author={John B. Shoven and Sita Nataraj Slavov},
  journal={Journal of Pension Economics \& Finance},
  year={2014},
  volume={13},
  pages={121-144}
}
Social Security benefits may be commenced at any time between ages 62 and 70. As individuals who claim later can, on average, expect to receive benefits for a shorter period, an actuarial adjustment is made to the monthly benefit to reflect the age at which benefits are claimed. We investigate the actuarial fairness of that adjustment in light of recent improvements in mortality and historically low interest rates. We show that delaying is actuarially advantageous for a large number of people… 

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