Social Security: The Best Annuity You Can Buy
https://seekingalpha.com/article/426...nnuity-can-buy
Summary
Delaying the start of Social Security past age 62 means the foregone income is reinvested in the system.
The increased income later can be interpreted as a lifetime annuity over and above what was available at age 62.
The annuity return on the reinvested income is 7-9% in the first year, depending on age, and growing with inflation thereafter.
This is very favorable compared to other annuity options.