[excessive]

It doesn't end at 80. Read closer. After 80, the amount received is determined by when you began receiving benefits. Start taking benefits early, receive less after 80 than if you had delayed because your payout is fixed at that number. Delay, receive more after 80 because you set payout at a higher number. Between retirement and age 80, benefits received are the same regardless when you begin taking them. So, if you start at 62 or 70 doesn't matter, up to age 80. Because the amount is fixed, you will receive the same. After 80 is when you gain benefit from delaying, as now you receive the benefit of setting your lifetime number at the higher payout from waiting.