It’s difficult to know all of the ins and outs about Social Security. But if you’re a retiree or are planning for retirement, there’s one helpful thing to know that can help you receive higher benefits.

In The Motley Fool’s new article, “46% of Americans Believe This Myth That Could Needlessly Delay Social Security,” they detail a Social Security fact that nearly half of Americans don’t know. It has to do with receiving Social Security income before age 70. Seniors who wait to draw benefits after reaching full retirement age can earn delayed retirement credits. These credits can boost monthly checks by up to 8% once you start taking benefits.

However, many Americans are unaware that these credits are only available until you reach age 70. After that, there’s no benefit to waiting. And if you’re taking spousal benefits, the retirement credits won’t be available.

At NORA, we believe that retirees should receive everything they’ve earned. We’re working hard to pass important legislation that would boost Social Security for beneficiaries. Sign our online petition today and join us on Twitter and Facebook for more updates!