You can sign up for Social Security retirement benefits as early as age 62, but your monthly payment depends on when you claim

The earliest you can claim Social Security retirement benefits is age 62. However, the Social Security Administration calculates your payment based on your age when you claim — the younger you are, the smaller your monthly check. 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 past full retirement age, your payment grows by about 8 percent per year until age 70, when growth stops.

There is no single "right" age to claim. The choice depends on your health, how long you expect to live, whether you still work, and whether you need the money now. This guide explains the timing rules, how your age affects your payment, and what happens if you claim while still working.

Key Takeaways

  • You can claim Social Security as early as age 62, but your monthly payment will be permanently reduced compared to waiting 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.
  • Delaying your claim past full retirement age increases your monthly payment by roughly 8 percent each year until you turn 70.
  • If you claim before full retirement age and continue working, the Social Security Administration reduces your benefits based on your earnings until you reach full retirement age.
  • You must have worked and paid Social Security taxes for at least 10 years to claim retirement benefits on your own record.

How your birth year determines your full retirement age

The Social Security Administration sets a different full retirement age for each birth year. This is the age at which you receive 100 percent of your calculated benefit — not a reduced amount and not an increased amount.

If you were born in 1943 or earlier, your full retirement age is 65. For people born between 1943 and 1954, the age gradually increases by two months per year. If you were born in 1955, your full retirement age is 66 and two months. If you were born between 1955 and 1960, it continues to increase by two months per year. 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 website or by calling 1-800-772-1213.

Claiming at 62: the earliest option and its permanent cost

You can claim Social Security as early as age 62, but doing so reduces your monthly payment for the rest of your life. The reduction depends on how many years you claim before your full retirement age. If your full retirement age is 67 and you claim at 62, your benefit is roughly 30 percent lower than it would be at 67. The reduction is smaller if your full retirement age is 66, and larger if it is 67.

This reduction is permanent. Even after you reach full retirement age, your payment does not increase to what it would have been if you had waited. You receive the reduced amount for as long as you live. The trade-off is that you collect benefits for five additional years, which may add up to more total money over your lifetime if you live an average lifespan or shorter.

Claiming at 62 makes sense if you need the money now, have health problems that suggest a shorter lifespan, or have other income sources. It is less attractive if you are in good health, have longevity in your family, or can afford to wait.

Waiting until full retirement age: your standard benefit

Claiming at your full retirement age gives you your primary insurance amount — the benefit the Social Security Administration calculated based on your 35 highest-earning years. This is neither reduced nor increased. Most people who claim at full retirement age receive this standard amount.

Reaching full retirement age also removes the earnings limit that applies to younger claimants. If you claim before full retirement age and continue working, the Social Security Administration reduces your benefits based on how much you earn. Once you reach full retirement age, you can earn any amount without losing benefits.

Full retirement age is a natural decision point for many people because it is when you can claim your full benefit without penalty and without the earnings limit. It is also the age at which you become may be able to access for Medicare, though you must sign up separately for that program.

Delaying past full retirement age: increased payments until 70

If you wait past your full retirement age to claim, your monthly payment increases. The increase is approximately 8 percent per year until you turn 70. 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 is permanent and applies to your benefit for the rest of your life. It also increases any survivor benefits your family members may receive based on your record. Delaying is most valuable if you are in good health, expect to live well into your 80s or 90s, or have other income that allows you to wait.

The Social Security Administration stops increasing your benefit at age 70, so there is no financial advantage to waiting past that age. You can claim anytime between 70 and 75 without penalty, but your payment will not grow further.

Claiming before full retirement age while still working

If you claim Social Security before your full retirement age and continue working, the Social Security Administration reduces your benefits based on your earnings. For 2024, the reduction is one dollar in benefits for every two dollars you earn above a certain threshold. The threshold changes each year.

This earnings limit applies only until you reach your full retirement age. In the month you reach full retirement age, the limit no longer applies, even if you continue working. Any benefits withheld due to earnings are not lost — the Social Security Administration recalculates your benefit at full retirement age to account for the months you did not receive payments.

If you are still working and considering claiming at 62, calculate whether your reduced benefit minus the earnings withholding is worth claiming now versus waiting. Many people find that continuing to work and delaying their claim is the better financial choice.

How to sign up and what documents you need

You can sign up for Social Security online through the Social Security Administration website, by phone at 1-800-772-1213, or in person at your local Social Security office. Online is usually the fastest option if you are comfortable with it.

To sign up, you will need your Social Security number, birth certificate, proof of citizenship or legal residency, and a bank account for direct deposit. If you were married, you may need divorce papers or a marriage certificate. If you are signing up based on a spouse's record, you will need their Social Security number as well.

The Social Security Administration recommends signing up about three months before you want your benefits to start. This gives them time to process your request and may support your first payment arrives on time. If you sign up online, you can often see a decision within 24 hours, though some applications take longer if the Social Security Administration needs to verify information.

Frequently Asked Questions

What happens if I claim Social Security and then change my mind?

If you are within 12 months of claiming, you can withdraw your process and reapply later. You must repay any benefits you received. After 12 months, you cannot withdraw, but you can suspend your benefits at full retirement age and let them grow until 70. Suspended benefits increase by about 8 percent per year.

Can I claim Social Security if I did not work for 10 years?

You need 40 work credits to claim retirement benefits on your own record, which usually means about 10 years of work. If you do not have 40 credits, you may be able to claim based on a spouse's or ex-spouse's record if you are at least 62 and meet other requirements. Contact the Social Security Administration to find out.

Does claiming Social Security affect Medicare?

You become may be able to access for Medicare at 65 regardless of whether you claim Social Security. However, if you claim Social Security before 65, you must still sign up for Medicare separately at 65 or face penalties. If you delay Social Security past 65, sign up for Medicare anyway to avoid late-enrollment penalties.

What if I was born on January 1st?

The Social Security Administration considers you one year older on January 1st for benefit calculation purposes. This means if you were born on January 1st, your full retirement age is reached on December 31st of the previous year. Check your official birth record with the Social Security Administration to confirm your exact date.

Can I claim Social Security and still work full-time?

Yes, but if you claim before full retirement age, your benefits will be reduced based on your earnings. Once you reach full retirement age, you can work and receive your full benefit. Many people claim at full retirement age or later specifically so they can work without losing benefits.