I does not increase outside of COLA (which isn’t happening because there s no Inflation - LOL) unless you are still working and paying into SS.
You take it early, that’s your Payment. The longer you wait the more you get. Since I have been dealing with Leukemia for nearly ten years now, I started taking it at Age 62.
I was diagnosed with metastatic prostate cancer (bone mets) in 9/15. Started taking my SS when I turned 62 in April. I’d have to live until 79 or 80 before it would make sense to wait until I was 66.
That’s not likely to happen, but I should be still around for a cure to be found. In the mean time, The extra money now added to retirement pay and 401k means we are financially secure for the duration. Not rich, but better off than 90% of people our age.