You can start collecting Social Security retirement benefits as early as age 62, but your monthly payment will be smaller than if you wait

The earliest age you can claim Social Security retirement benefits is 62. However, the amount you receive each month depends on when you claim. If you claim at 62, you get roughly 70% of what you would receive at your full retirement age. If you wait until 70, you get about 124% of that amount. The longer you delay, the larger your monthly check becomes — but you also receive fewer total checks over your lifetime if you die early.

Your full retirement age — the age at which you receive 100% of your benefit — depends on your birth year. For people born in 1943 or later, it ranges from 66 to 67. The Social Security Administration publishes a chart showing your specific full retirement age based on your birth month and year.

There is no age at which you must claim. You can work past 70 and delay claiming indefinitely, though your benefit stops growing at 70. Once you turn 70, waiting longer does not increase your monthly payment.

Key Takeaways

  • You can claim Social Security as early as 62, but your monthly benefit will be permanently reduced compared to waiting until your full retirement age.
  • Your full retirement age is between 66 and 67 depending on your birth year, and claiming at that age gives you your standard benefit amount.
  • Waiting until 70 increases your monthly benefit by about 8% for each year you delay past your full retirement age, up to age 70.
  • If you claim before your full retirement age and continue working, your benefits may be reduced if your earnings exceed a yearly limit set by Social Security.

How the reduction works if you claim early

Claiming at 62 instead of your full retirement age results in a permanent reduction to your benefit. The exact percentage depends on how many years early you claim. If your full retirement age is 67 and you claim at 62, you lose roughly 30% of your benefit for life. This reduction applies to every check you receive, even after you reach your full retirement age.

The reduction is permanent. You cannot change your mind later and get the full amount back. If you claim at 62 and then regret the decision at 65, your benefit stays reduced. This is why the decision matters: it affects not just your first check, but every payment for the rest of your life.

How the increase works if you delay past full retirement age

For each year you delay claiming after your full retirement age, your benefit grows by roughly 8% per year. This continues until age 70. After 70, your benefit no longer increases, so there is no financial reason to delay past that point.

If your full retirement age is 67 and you wait until 70, you receive about 24% more per month than you would at 67. Over a long retirement, this compounds significantly. However, you also receive three fewer years of payments, so the break-even point — where total lifetime benefits are equal — typically occurs in your early 80s. If you expect to live into your 90s, delaying usually results in more total money received.

Earnings limits if you claim before full retirement age

If you claim Social Security before your full retirement age and continue working, Social Security reduces your benefits if your earnings exceed a yearly limit. For 2024, that limit is $23,400 per year (this amount changes annually). For every $2 you earn above the limit, Social Security withholds $1 from your benefit.

Once you reach your full retirement age, the earnings limit no longer applies. You can earn any amount without affecting your benefits. This rule applies only in the year you reach full retirement age and only to earnings before the month you reach that age.

The earnings limit applies only to wages and self-employment income. It does not explore to investment income, pensions, annuities, or other retirement income. If you are retired and living on savings, the limit does not affect you.

Spousal and survivor benefits have different claiming ages

If you are married, you may be may have access to to benefits based on your spouse's work record. The earliest age to claim spousal benefits is 62, but like retirement benefits, claiming early reduces the amount. Your full retirement age for spousal benefits is typically two to three years after your own full retirement age.

Survivor benefits — payments to your family if you die — can begin at any age for children under 19 (or 19 if still in high school) and at 60 for surviving spouses. These rules are separate from your own retirement benefit and do not depend on when you claim.

How to find your full retirement age

The Social Security Administration publishes a table showing full retirement age by birth year. You can find it on ssa.gov by searching "full retirement age" or "retirement age chart." You can also call Social Security at 1-800-772-1213 and ask an agent for your specific full retirement age.

You can also create a my Social Security account at ssa.gov. Once you log in, your account shows your estimated benefit at different claiming ages — 62, your full retirement age, and 70. This estimate is based on your actual earnings record and gives you a concrete picture of how much your choice matters in your situation.

Working with a financial advisor on timing

The decision of when to claim is personal and depends on your health, family history, financial situation, and how long you expect to live. Some people need the income at 62 and have no choice. Others have enough savings to wait and want to maximize lifetime benefits.

A financial advisor or tax professional can model different scenarios for you using your actual benefit amounts and your specific circumstances. They can show you the break-even ages and help you think through what makes sense for your situation. This is especially important if you have a spouse, because the timing of both claims affects your household income.

Frequently Asked Questions

Can I change my mind after I claim Social Security?

If you claimed within the last 12 months, you can withdraw your claim and repay what you received. This resets your benefit to the amount you would receive if you had not claimed. After 12 months, you cannot withdraw. You can request a one-time "deemed filing" change in limited circumstances, but this is rare and has strict rules.

What happens to my benefits if I keep working after I claim?

If you claim before your full retirement age and earn more than the yearly limit, Social Security reduces your benefit by $1 for every $2 you earn above the limit. Once you reach your full retirement age, you can earn any amount without penalty. Your benefit amount itself does not change — only the payment you receive that year.

Do I have to claim Social Security at my full retirement age?

No. You can claim anytime between 62 and 70, or even delay past 70. There is no requirement to claim at any particular age. However, your benefit amount is locked in based on the age you claim, so the timing is a permanent decision.

How do I know if I should claim at 62 or wait?

This depends on your health, family longevity, financial needs, and whether you plan to work. If you need income now or have health reasons to expect a shorter life, claiming at 62 makes sense. If you are healthy, have other income, and expect to live into your 90s, waiting until 70 usually results in more total lifetime benefits.

Can my spouse claim on my record if I haven't claimed yet?

Yes, but only if your spouse is at least 62 and you are at least 62. Your spouse can claim spousal benefits based on your record even if you have not claimed your own retirement benefit yet. However, your spouse's benefit will be reduced for claiming early, just as yours would be.