Which statement best describes how poverty rates change with age after 65? Poverty rates go down after age 65 as people start collecting Social Security benefits. Poverty rates steadily go up after age 65 as other assets and funds get used up over time. Annual increases in Social Security benefits due to the Cost of Living Allowance (COLA), ensure that no older adults live in poverty. Most older adults file "later," after the age for full Social Security benefits, so they get larger monthly payments over time