How come social security does not give you an increase each year until you reach your full benefit age it makes sense to do that

Hi. I'm not sure what you mean. Social Security benefit rates do go up with each month that a person delays collecting their benefits from age 62 to age 70.

For example, let's say Bob turns 62 on September 2nd 2021. Bob's primary insurance amount (PIA), which is equal to the amount he'd receive if he waits until full retirement age (FRA), is $2000. If Bob starts drawing effective with September 2021 his benefit rate would be reduced to $1416. But, if he starts drawing effective with October 2021 his benefit rate would be $1425.

Bob's benefit rate would get incrementally closer to his FRA rate of $2000 with each month that he delays collecting benefits until he reaches FRA. And if Bob waits past FRA to start drawing his benefits, his benefit rate would continue to get higher with each month he waits up until age 70. If Bob waits until age 70 to start collecting, his monthly benefit rate would be $2506.

If a person chooses to start drawing their benefits early in return for a lower monthly benefit rate, that lower rate is normally permanent except for cost of living (COLA) increases. The only other ways that a person's benefit rate might increase after they start drawing is if some of their benefits are withheld due to the Social Security earnings test, or if they work and earn enough to increase their benefit rate.

Best, Jerry