The Social Security Administration on Monday will implement a big change in the way millions of recipients can verify their identity with the agency to receive their benefits.

Your claiming age affects your monthly checks and your lifetime benefit. Every month you delay Social Security increases your benefit by anywhere from 5/12 of 1% per month to 2/3 of 1% per month, and the longer you wait, the faster your checks grow. But there's more than just your monthly benefit to think about.