The earliest you can claim Social Security retirement benefits is age 62, but your monthly payment will be smaller than if you wait

You become may be able to access to claim Social Security retirement benefits at age 62, no matter your work history. However, the amount you receive each month depends on when you claim. If you claim at 62, you receive a reduced payment — typically 30 percent less than if you waited until your full retirement age. If you delay claiming past your full retirement age, your monthly payment grows by about 8 percent per year until age 70, when payments stop increasing.

Your full retirement age is not 65 anymore. It depends on the year you were born. If you were born between 1943 and 1954, your full retirement age is 66. If you were born in 1960 or later, it is 67. If you were born between those years, it falls somewhere in between — Social Security has a chart on their website showing the exact age for your birth year.

You do not have to be retired to claim benefits. You can still work and receive payments at any age. However, if you claim before your full retirement age and earn more than a certain amount per year from work, Social Security will reduce your benefits temporarily. Once you reach your full retirement age, there is no earnings limit — you can work and receive your full benefit amount.

Key Takeaways

  • You can claim Social Security retirement benefits starting at age 62, but your monthly payment will be permanently reduced compared to waiting until your full retirement age.
  • Your full retirement age depends on your birth year and ranges from 66 to 67; claiming at that age gives you your standard benefit amount.
  • Delaying your claim past full retirement age increases your monthly payment by roughly 8 percent per year until you turn 70.
  • You can work while receiving Social Security, but earnings before full retirement age may temporarily reduce your benefits.
  • If you are married, divorced, or a widow or widower, you may have additional claiming options based on your spouse's or ex-spouse's work record.

How your birth year determines your full retirement age

Social Security changed the full retirement age starting with people born in 1943. Before that, full retirement age was 65 for everyone. Now it increases gradually by a few months for each birth year until it reaches 67.

If you were born in 1943 through 1954, your full retirement age is 66. If you were born in 1955, it is 66 and 2 months. It continues to increase by 2 months for each year until 1960, when it becomes 67 and stays there for everyone born in 1960 or later. Social Security publishes a detailed table on their website showing the exact age for each birth month and year.

Knowing your full retirement age matters because it is the dividing line between reduced and full benefits. Claiming before that age means a permanent reduction. Claiming after that age means a permanent increase.

What happens if you claim at 62 versus waiting

Claiming at 62 gives you the smallest monthly payment you will ever receive from Social Security. The reduction is roughly 30 percent less than your full retirement age benefit, though the exact percentage depends on how many years early you claim.

If your full retirement age is 67 and you claim at 62, you are claiming 5 years early. If your full retirement age is 66 and you claim at 62, you are claiming 4 years early. The further ahead you claim, the larger the permanent reduction.

The trade-off is that you start receiving money sooner. If you claim at 62 and live to an average age, you may receive roughly the same total amount over your lifetime as someone who waits until 67. If you live longer than average, waiting until 67 or 70 usually results in more total money received. If you die before reaching your full retirement age, claiming at 62 means your family receives more in survivor benefits than if you had not yet claimed.

Delaying your claim past full retirement age

For every year you delay claiming past your full retirement age, your monthly benefit grows by about 8 percent per year. This increase stops at age 70 — there is no benefit to waiting past 70 to claim.

If your full retirement age is 67 and you wait until 70, your monthly payment will be roughly 24 percent higher than if you claimed at 67. This increase is permanent and applies to your benefit for the rest of your life.

Delaying makes the most sense if you are in good health, expect to live well into your 80s or 90s, or do not need the money right away. It also makes sense if you are still working and earning a high income, because earnings before full retirement age can reduce your benefits temporarily.

Earnings limits if you work while receiving benefits

You can work and receive Social Security at the same time. However, if you claim before your full retirement age, Social Security reduces your benefits based on how much you earn.

For 2024, if you are under full retirement age for the entire year, Social Security deducts $1 in benefits for every $2 you earn above a certain amount. The amount changes each year. In the year you reach full retirement age, the limit is higher, and the reduction applies only to earnings before the month you reach full retirement age.

Once you reach your full retirement age, there is no earnings limit. You can earn any amount and receive your full benefit. This is one reason some people choose to wait until full retirement age to claim — it removes the earnings penalty entirely.

Spousal and survivor benefits based on your claim age

If you are married, your spouse may be able to receive benefits based on your work record. If you are divorced and were married at least 10 years, your ex-spouse may have the same option. The amount your spouse or ex-spouse receives depends partly on when you claim.

If you claim at 62, your spouse's maximum benefit is reduced. If you wait until your full retirement age or later, your spouse's benefit is higher. This is one reason married couples sometimes coordinate their claiming strategy — one spouse may claim early while the other waits, balancing the household's total income.

If you die before claiming, your widow, widower, or children may receive survivor benefits based on your work record. The amount they receive depends on your age at death and your earnings history, not on when you would have claimed.

How to find your full retirement age and estimated benefit amount

Social Security maintains a website where you can look up your full retirement age based on your birth date. You can also create a my Social Security account online to see your earnings record and get an estimate of your benefit amount at different claiming ages.

To create an account, you need your Social Security number, email address, and a way to verify your identity — usually a driver's license or state ID. Once you have an account, you can see your estimated benefits at age 62, full retirement age, and age 70. This estimate is based on your actual earnings history and is updated each year.

You can also call Social Security at 1-800-772-1213 to speak with a representative. They can answer questions about your specific situation and help you understand how claiming at different ages would affect your payment.

Frequently Asked Questions

Can I change my mind after I start receiving benefits?

Yes, but only within certain limits. If you claimed within the last 12 months, you can withdraw your claim and stop receiving benefits. You must repay all benefits you received, and your benefit amount resets. After 12 months, you cannot withdraw your claim, but you can suspend your benefits at full retirement age and let them grow until age 70.

What if I was born on January 1st — which year's rules explore to me?

Social Security treats people born on January 1st as if they were born on December 31st of the previous year. So if you were born on January 1, 1943, you are considered born in 1942 for purposes of determining your full retirement age.

Do I lose all my benefits if I work after claiming at 62?

No. Social Security reduces your benefits based on earnings, but you do not lose them entirely unless you earn significantly more than the limit. For example, if the limit is $23,400 per year and you earn $30,000, Social Security deducts $1 for every $2 over the limit — in this case, $3,300 in benefits. You still receive the rest.

What if I am not a U.S. citizen?

You can receive Social Security benefits if you have a valid Social Security number and meet the work requirements, regardless of citizenship status. However, if you leave the United States, benefit payments may be affected depending on your citizenship and the country you move to. Contact Social Security directly to understand how this applies to your situation.

Can I claim based on my ex-spouse's record if they have not claimed yet?

Yes, if you were married at least 10 years, are at least 62 years old, and are not currently married. You can claim based on your ex-spouse's record even if they have not claimed yet, as long as you are at least 62 and they are at least 62. You do not need their permission.