95% compaction, is really a comparison of the soil density based on a given density achieved in a soil mass where a specified amount of energy/effort is applied (modified or standard proctor), and at a moisture content. It does not mean that at 100% there soil cannot compact any further. The more energy applied, the denser the soil will get provided there is still more space for the soil particles to pack together. That is why the modified proctor results in higher dry densities than the standard proctor -more energy is applied. And even with the modified, there is still voids for further compaction if a higher energy level under the appropriate moisture can be applied. Therefore, while it is true that higher % compaction reduces the tendency for further settlement, it is not measure of the total settlement that can be achieved in soil.