The earliest and latest ages to claim Social Security

You can claim Social Security retirement benefits as early as age 62, but your monthly payment will be permanently reduced. If you wait until your full retirement age — which ranges from 66 to 67 depending on your birth year — you receive your full benefit amount. If you delay claiming past your full retirement age, your benefit grows by about 8 percent per year until age 70, when growth stops.

The Social Security Administration does not require you to claim at any particular age. You choose when to start, and that choice affects how much you receive each month for the rest of your life. There is no "best" age for everyone — it depends on your health, how long you expect to live, whether you still work, and whether you need the money now.

Key Takeaways

  • You can claim Social Security as early as age 62, but your monthly benefit will be about 30 percent lower than if you wait until full retirement age.
  • Your full retirement age is 66 or 67 depending on your birth year, and claiming at that age gives you your standard benefit amount.
  • Waiting until age 70 increases your monthly benefit by roughly 24 percent compared to full retirement age, but you receive fewer total payments if you die early.
  • If you claim before full retirement age and continue working, your benefit may be reduced by $1 for every $2 you earn above an annual limit.
  • You must have earned at least 40 work credits (roughly 10 years of work) to be may have access to to retirement benefits on your own record.

How your birth year determines your full retirement age

The Social Security Administration raised the full retirement age gradually starting in 1983. If you were born in 1954 or earlier, your full retirement age is 66. If you were born between 1955 and 1959, it is 66 plus a number of months — for example, someone born in 1957 has a full retirement age of 66 and 6 months. If you were born in 1960 or later, your full retirement age is 67.

You can find your exact full retirement age on the Social Security Administration's website or by calling 1-800-772-1213. Knowing this number matters because it is the threshold where your benefit stops being reduced for early claiming and starts being increased for delayed claiming.

What happens to your benefit if you claim at 62

Claiming at 62 reduces your monthly benefit by roughly 25 to 30 percent compared to your full retirement age amount. The exact reduction depends on how many months early you claim. Someone born in 1960 with a full retirement age of 67 who claims at 62 receives about 70 percent of their full benefit. Someone born in 1954 with a full retirement age of 66 who claims at 62 receives about 75 percent.

This reduction is permanent. Even after you reach full retirement age, your benefit never increases to what it would have been if you had waited. The only exception is if you withdraw your claim within 12 months of starting benefits and repay what you received — a rare option that few people use.

Early claiming makes sense if you need the money now, expect to live a shorter life than average, or have already stopped working. It does not make sense if you are still earning a substantial income, because your benefit will be further reduced by your work earnings.

How work earnings affect your benefit before full retirement age

If you claim before your full retirement age and earn more than a certain amount per year, Social Security reduces your benefit. For 2024, the limit is $23,400 per year. If you earn more than that, your benefit is reduced by $1 for every $2 you earn above the limit.

This earnings test applies only in the year you claim and in years before you reach full retirement age. Once you reach full retirement age, you can earn any amount without any reduction to your benefit. The reduction also does not affect your benefit permanently — it only reduces payments in the months you are working above the limit.

If you are still working and earning a high income, claiming at 62 may result in very little or no benefit payment for several years. In that case, waiting until you stop working or reach full retirement age usually makes more financial sense.

The advantage of waiting until age 70

For every year you delay claiming past your full retirement age, your benefit increases by about 8 percent per year. If your full retirement age is 67 and you wait until 70, your benefit is roughly 24 percent higher than it would be at 67. This increase continues only until age 70 — there is no additional benefit for waiting past 70.

Waiting until 70 is most valuable if you are in good health, have a family history of longevity, or have other income sources to live on in your 60s. Because you receive fewer total payments over your lifetime (you start later), you need to live into your mid-80s for the higher monthly amount to add up to more total money than if you had claimed earlier.

Married couples can also use delayed claiming strategically. A spouse who did not work much can claim a reduced benefit based on the working spouse's record, while the working spouse delays to age 70 to maximize their own benefit. This strategy is more limited than it was before 2015, but it still offers options for some couples.

Work credits and the 40-credit requirement

To claim Social Security retirement benefits on your own work record, you must have earned at least 40 work credits. You earn one credit for each $1,730 of earnings in 2024 (the amount changes yearly). You can earn up to four credits per year, so 40 credits typically requires about 10 years of work.

The Social Security Administration counts credits based on your total earnings for the year, not on how long you worked. If you earned $6,920 in 2024, you would receive four credits for that year, even if you worked only part of it. If you earned $1,730, you would receive one credit.

You can check how many credits you have earned by creating an account on ssa.gov and viewing your Social Security Statement. This statement also shows your estimated benefit at different claiming ages — 62, full retirement age, and 70.

Spousal and survivor benefits tied to your claiming age

If you are married, your spouse may be may have access to to a benefit based on your work record. If your spouse claims a spousal benefit before their full retirement age, that benefit is also reduced. A spouse who waits until full retirement age receives up to 50 percent of your primary benefit amount.

Your children and surviving spouse can also claim benefits based on your record if you die. The total amount all family members can receive is capped at about 150 to 180 percent of your primary benefit. Claiming early reduces not only your own benefit but also the maximum amount available to your family.

Frequently Asked Questions

Can I change my mind after I start collecting Social Security?

You can withdraw your claim and repay benefits within 12 months of starting. After 12 months, you cannot undo your claim, but you can suspend your benefit at full retirement age and let it grow until 70. Suspension stops your payments but increases your benefit by 8 percent per year.

What if I was born outside the United States?

You can still claim Social Security if you have 40 work credits earned in the United States. You must be a U.S. citizen or a lawful permanent resident who has lived in the U.S. for at least five years. Some non-citizens have different rules — contact Social Security directly to confirm your situation.

Does claiming Social Security affect Medicare?

No. You become may be able to access for Medicare at 65 regardless of whether you claim Social Security. However, if you delay claiming Social Security past 65, you should still sign up for Medicare during your initial enrollment window to avoid late penalties.

How do I know if my estimate on the Social Security website is accurate?

The estimate assumes you will continue working and earning at your current rate until your claiming age. If your earnings change significantly, your actual benefit may differ. The estimate also does not account for cost-of-living adjustments that happen after the estimate was created.

What happens if I claim and then return to work full-time?

If you claimed before full retirement age, your benefit will be reduced based on your new earnings. Once you reach full retirement age, the earnings limit no longer applies and your full benefit resumes, even if you work.