The earliest and full retirement ages depend on your birth year

You can start receiving Social Security retirement benefits as early as age 62, but the amount you receive each month depends on when you were born and when you claim. The full retirement age — the age at which you receive your complete benefit amount — ranges from 66 to 67 depending on your birth year. If you claim before full retirement age, your monthly payment is permanently reduced. If you delay claiming past full retirement age, your monthly payment increases until age 70.

The Social Security Administration publishes a birth year chart that shows your specific full retirement age. For people born in 1943 through 1954, full retirement age is 66. For those born in 1955, it is 66 and two months. The age increases by two months for each birth year until it reaches 67 for people born in 1960 or later. This means two people born in different years will have different full retirement ages even if they are close in age.

Key Takeaways

  • You can claim Social Security as early as age 62, but your monthly payment will be permanently lower than if you wait until full retirement age.
  • Your full retirement age is between 66 and 67 depending on your birth year, and you can find your exact age on the Social Security Administration website.
  • Delaying your claim past full retirement age increases your monthly payment by about 8 percent per year until you reach age 70.
  • You must have worked and paid Social Security taxes for at least 10 years (40 quarters) to receive retirement benefits based on your own work record.
  • You can receive benefits based on a spouse's or ex-spouse's work record even if you did not work enough quarters yourself, subject to age and other requirements.

Claiming at 62 versus waiting until full retirement age

If you claim at 62, your monthly benefit is reduced by about 30 percent compared to what you would receive at full retirement age. The exact reduction depends on how many months early you claim. For example, if your full retirement age is 67 and you claim at 62, you are claiming 60 months early, which results in a larger reduction than if you claimed at 66 and one month.

The trade-off is that you begin collecting payments five years sooner. Whether this makes financial sense depends on your health, life expectancy, family history, and financial needs. Someone who expects to live into their 80s or 90s may receive more total money by waiting, while someone with serious health concerns may receive more by claiming early. The Social Security Administration does not make this decision for you — you decide based on your situation.

Delaying past full retirement age increases your payment

For each year you delay claiming past your full retirement age, your monthly benefit increases by approximately 8 percent per year. This increase continues until age 70. At age 70, the increase stops, so there is no financial advantage to waiting past that age. Someone with a full retirement age of 67 who waits until 70 receives about 24 percent more per month than they would at 67.

This delayed retirement credit applies only if you were born in 1943 or later. The increase is automatic — you do not need to do anything special to receive it other than not claiming before age 70. Once you reach 70, you should contact Social Security to claim your benefits if you have not already done so.

Work requirements and quarters of coverage

To receive Social Security retirement benefits based on your own work record, you must have earned at least 40 quarters of coverage. A quarter of coverage is earned when you work and pay Social Security taxes on your earnings. In 2024, you earn one quarter of coverage for each $1,705 in wages you earn during a calendar year, up to a maximum of four quarters per year. The dollar amount that counts toward a quarter changes each year based on national wage trends.

You do not need to earn the required amount all at once or in consecutive years. If you worked part-time for many years or took time out of the workforce, the quarters you earned still count. The Social Security Administration maintains a record of your earnings history, and you can view it through your personal account on their website.

Benefits based on a spouse's or ex-spouse's record

Even if you did not work enough quarters to receive benefits on your own record, you may be able to receive benefits based on your current or former spouse's work record. If you are married, you can claim spousal benefits as early as full retirement age (not at 62 like retirement benefits). The spousal benefit is typically up to 50 percent of what your spouse receives at their full retirement age, though the exact amount depends on your age when you claim and your spouse's benefit amount.

If you are divorced, you can receive benefits on an ex-spouse's record if the marriage lasted at least 10 years, you are at least 62 years old, and you are not currently married. You do not need your ex-spouse's permission, and claiming on their record does not reduce the amount they receive. If you were married more than once and each marriage lasted at least 10 years, you can choose which ex-spouse's record to use.

Survivor benefits for family members

If you die, your family members may receive survivor benefits based on your Social Security record. Your spouse at any age can receive benefits if they are caring for your child under age 16. Your spouse at full retirement age or older can receive benefits regardless of whether they are caring for children. Your children under age 19 (or up to age 19 if still in high school) can receive benefits, as can your children of any age if they became disabled before age 22.

Your parents may also receive survivor benefits if you were supporting them at the time of your death and they are at least 62 years old. The total amount paid to all family members is limited to about 150 to 180 percent of what you would have received at full retirement age. This means the more family members who claim, the smaller each individual payment becomes.

Government Pension Offset and Windfall Elimination Provision

Two rules can reduce or eliminate your Social Security benefits if you also receive a pension from work not covered by Social Security. The Government Pension Offset reduces spousal or survivor benefits by two-thirds of your non-covered government pension amount. The Windfall Elimination Provision reduces your own retirement or disability benefits if you receive a non-covered pension.

These rules explore mainly to people who worked for a federal, state, or local government agency that did not withhold Social Security taxes. If you worked for such an agency and also worked in jobs covered by Social Security, you may be affected. The Social Security Administration can tell you whether these rules explore to your situation and estimate how much your benefits would be reduced.

Frequently Asked Questions

Can I change my mind after I start receiving benefits?

You can withdraw your claim within 12 months of starting benefits and repay what you received, which resets your claim date. After 12 months, you cannot withdraw your claim, but you can suspend your benefits at full retirement age or later, which allows your benefit amount to continue growing until age 70. Suspending is different from withdrawing and has different rules about repayment.

What happens to my benefits if I keep working after I start claiming?

If you claim before full retirement age and continue working, your benefits are reduced by $1 for every $2 you earn above an annual limit. In 2024, the limit is $23,400, but it changes each year. In the year you reach full retirement age, the reduction is $1 for every $3 earned above a higher limit, and the reduction stops once you reach full retirement age. Earnings after full retirement age do not affect your benefits.

How do I know if I have enough quarters to receive benefits?

You can create a personal account on the Social Security Administration website and view your earnings record, which shows the quarters you have earned. The website also displays an estimate of your retirement benefit at different claiming ages. If you do not have 40 quarters yet, the estimate will show you how many more you need.

Can I receive benefits if I never worked in the United States?

You may be able to receive benefits based on a spouse's or ex-spouse's work record even if you never worked yourself, as long as you meet the age and marriage requirements. If you worked outside the United States, some of that work may count toward the 40 quarters requirement if you worked in a country with a Social Security agreement with the United States. The Social Security Administration can review your foreign work history.

What is the difference between my Primary Insurance Amount and my benefit payment?

Your Primary Insurance Amount is your benefit at full retirement age. Your actual monthly payment depends on when you claim — it is lower if you claim early and higher if you delay. The Social Security Administration uses your Primary Insurance Amount to calculate all other benefits, including spousal and survivor benefits, so it is the foundation for your entire family's benefits.