What Social Security retirement is and who can receive it

Social Security retirement is a monthly payment from the federal government based on your work history and age. You become may be able to access to receive it once you reach a certain age and have worked long enough to earn credits in the Social Security system. The amount you receive depends on how much you earned during your working years and what age you choose to start claiming.

You earn Social Security credits by working and paying Social Security taxes. Most people need 40 credits to be may be able to access for retirement benefits — that typically means working about 10 years. The Social Security Administration (SSA) calculates your benefit amount using your highest 35 years of earnings, adjusted for inflation.

You do not have to stop working to receive retirement benefits, though your benefits may be reduced if you claim before your full retirement age and earn above a certain amount. Once you reach full retirement age, you can earn any amount without affecting your benefits.

Key Takeaways

  • You can claim Social Security retirement as early as age 62, but your monthly payment will be permanently lower than if you wait until full retirement age.
  • Full retirement age ranges from 66 to 67 depending on your birth year, and waiting until then or later increases your monthly benefit.
  • You can work while receiving benefits, but if you claim before full retirement age and earn over the annual limit, your benefits will be temporarily reduced.
  • The SSA mails a statement showing your estimated benefits at different claiming ages; you can also create an account at ssa.gov to view this information anytime.
  • You must contact the SSA to claim benefits — they do not automatically start when you reach a certain age.

Full retirement age and how it affects your benefit amount

Your full retirement age is the age at which you can receive your complete benefit amount with no reduction. This age is not 65 for everyone — it depends on the year you were born. For people born in 1943 through 1954, full retirement age is 66. For those born in 1955 through 1960, it gradually increases from 66 and 2 months to 66 and 10 months. For anyone born in 1960 or later, full retirement age is 67.

If you claim before your full retirement age, your monthly benefit is permanently reduced. Claiming at 62 (the earliest possible age) results in a significantly smaller monthly payment than waiting until full retirement age. The exact reduction depends on how many months early you claim.

If you delay claiming past your full retirement age, your benefit increases by about 8 percent per year until age 70. This means someone born in 1960 who waits until 70 to claim receives roughly 24 percent more per month than someone who claims at their full retirement age of 67. This higher amount continues for the rest of your life.

Claiming at 62 versus waiting until full retirement age or later

The choice of when to claim is a trade-off between receiving payments sooner or receiving a larger monthly amount. There is no single "right" answer — it depends on your health, financial needs, and life expectancy.

Claiming at 62 means you start receiving money immediately, which can help if you need income now or have health concerns. However, you receive fewer total dollars over your lifetime if you live into your mid-80s or beyond, because your monthly payment is permanently reduced and you receive it for more years at that lower rate.

Waiting until full retirement age or beyond makes sense if you are in good health, do not need the money immediately, or want to maximize the amount your surviving spouse or family members could receive. Your spouse may also be able to receive benefits based on your work record, and those benefits are higher if you wait to claim.

How work affects your benefits before full retirement age

If you claim Social Security retirement before reaching your full retirement age and continue working, the SSA will reduce your benefits if your earnings exceed an annual limit. For 2024, that limit is $23,400 per year. For every $2 you earn above that amount, your benefits are reduced by $1.

This reduction is temporary — it applies only to the months before you reach full retirement age. Once you reach full retirement age, your benefits are no longer reduced no matter how much you earn. The SSA also recalculates your benefit amount at full retirement age to account for the months your benefits were withheld, which can result in a slightly higher monthly payment going forward.

If you reach full retirement age partway through the year, the earnings limit applies only to income earned before the month you reach that age. The SSA counts only wages and self-employment income toward this limit — it does not count investment income, pensions, or other sources.

How to claim and what documents you will need

You must contact the SSA to claim retirement benefits — they do not start automatically. You can apply online at ssa.gov, by phone at 1-800-772-1213, or in person at your local Social Security office. Online applications are often the fastest option and allow you to complete the process at your own pace.

To claim, you will need to provide proof of age (such as a birth certificate), proof of citizenship or legal residency (such as a passport or naturalization papers), and proof of income (such as tax returns or W-2 forms). If you have been married, you may also need divorce decrees or a spouse's death certificate, depending on your situation.

The SSA typically processes applications within two weeks if you apply online, though the time can vary. You will receive a notice showing your benefit amount and your first payment date. Benefits are usually deposited directly into your bank account, though you can request a check if you prefer.

Survivor benefits and family members who may receive payments

When you claim Social Security retirement, your family members may also become may be able to access for benefits based on your work record. Your spouse can receive benefits as early as age 62, or at any age if they are caring for a child under 16. Your ex-spouse can also receive benefits if you were married for at least 10 years, even if you have remarried.

Your children under age 19 (or up to age 19 if still in high school) can receive benefits based on your record. If you become disabled or pass away, your family members may receive survivor benefits. The total amount paid to your entire family is limited to about 150 to 180 percent of your full retirement age benefit amount, so individual family member payments may be reduced if multiple people are receiving benefits.

If you are divorced and your ex-spouse has not remarried, you can claim benefits on their record even if they have not yet claimed, as long as you are at least 62 and were married for at least 10 years. This does not affect the benefits your ex-spouse receives.

Understanding your Social Security statement and benefit estimates

The SSA provides a statement showing your estimated retirement benefits at different claiming ages — typically at 62, full retirement age, and 70. You can view this statement by creating a my Social Security account at ssa.gov. The account shows your earnings history, which you should review for accuracy since your benefit is based on these records.

Your benefit estimate assumes you will continue working until you claim and that your earnings will be similar to your past earnings. If you plan to retire early or expect your earnings to change significantly, your actual benefit may differ from the estimate. The SSA updates your statement each year to reflect your most recent earnings.

If you find errors in your earnings history, you should report them to the SSA as soon as possible. You have a limited time to correct errors — typically three years, three months, and 15 days from the year the earnings were posted. Correcting errors now can result in a higher benefit amount when you claim.

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 application and repay all benefits you received. This resets your claim and allows you to claim again at a later date, potentially at a higher amount. After 12 months, you cannot withdraw your application, but you can suspend your benefits at full retirement age or later, which allows them to grow until age 70.

What happens to my benefits if I move out of the United States?

You can receive Social Security retirement benefits while living in most countries. However, benefits are not payable to U.S. citizens living in Cuba, North Korea, Iran, Syria, or Crimea. If you move to another country, notify the SSA so they can continue your payments. Some countries require periodic proof that you are still alive.

How is my benefit amount calculated?

The SSA uses your highest 35 years of earnings, adjusted for inflation, to calculate your primary insurance amount — the benefit you receive at full retirement age. If you have fewer than 35 years of earnings, zeros are included for the missing years, which lowers your average. Your actual benefit at 62 or 70 is then adjusted based on the age you claim.

Can I receive Social Security retirement and disability benefits at the same time?

No. If you are receiving Social Security Disability Insurance (SSDI), your benefits automatically convert to retirement benefits when you reach full retirement age, though the amount remains the same. You cannot receive both programs simultaneously.

What if I never worked or have very few work credits?

You need 40 credits to receive retirement benefits, which typically requires about 10 years of work. If you have fewer credits, you are not may be able to access for your own retirement benefit. However, you may be may be able to access for benefits as a spouse or ex-spouse if your spouse or ex-spouse has enough credits and is at least 62.