Question 658: How long can I receive retirement benefits? Is there a
break-even age, like Social Security has?
Answer: Once you are awarded retirement benefits, they will continue as long as you live.
You also asked about a "break even" point. I assume you are asking, "If I take a reduced benefit at 62 (which may only be 70% of the full rate) rather than waiting for a full benefit when I reach normal retirement age, is there a point when I will receive less in total lifetime benefits?"
In giving advice to people reaching retirement age for a reduced benefit, I always advise that if you don't plan to work once you start to receive benefits, you should start the benefit at the earliest point. No one has a crystal ball to see their mortality. But it is true that if you live long enough, you might receive less than waiting 3 to 5 years for a full benefit.
According to the latest life expectancy data published by the Railroad Retirement Board, a male at age 62 will live, on average. to 81 and, at age 65, to 81-1/2. A woman at age 62 will live, on average, to 84-1/3 years, and, at age 65, to almost 85 years.