The age you can start collecting depends on when you were born

You can start collecting Social Security retirement benefits as early as age 62, but the amount you receive each month depends on your birth year and when you claim. The full retirement age — the age at which you receive your complete benefit — ranges from 66 to 67 depending on whether you were born before 1955 or after. If you wait past your full retirement age, your monthly payment increases by about 8 percent per year until age 70, when the increase stops.

The Social Security Administration (SSA) does not require you to claim at any particular age, but the longer you wait, the higher your monthly benefit will be. Conversely, claiming at 62 means a smaller monthly payment for the rest of your life. This is a permanent choice — once you claim, your benefit amount is set.

Key Takeaways

  • You can claim Social Security retirement benefits as early as age 62, but your monthly payment will be permanently reduced if you do.
  • Your full retirement age is between 66 and 67, depending on your birth year, and this is when you receive your complete benefit amount.
  • Waiting to claim past your full retirement age increases your monthly benefit by roughly 8 percent per year until you turn 70.
  • The SSA will not automatically send you benefits — you must contact them to start the process, either online, by phone, or in person.
  • Your work history and lifetime earnings determine your benefit amount, not your age alone.

Full retirement age by birth year

The year you were born determines your full retirement age. If you were born in 1943 or earlier, your full retirement age is 65. For those born between 1943 and 1954, full retirement age increases gradually — for example, if you were born in 1950, your full retirement age is 66 and 2 months. If you were born in 1955 or later, your full retirement age is 67.

This age is important because it is the point at which you receive 100 percent of your calculated benefit. Before this age, your benefit is reduced. After this age, your benefit increases. The SSA publishes a complete chart on its website showing the exact full retirement age for each birth year.

How claiming early reduces your monthly payment

If you claim at 62 when your full retirement age is 67, your monthly benefit is roughly 30 percent lower than it would be if you waited. The exact reduction depends on how many months early you claim. For every month you claim before your full retirement age, your benefit decreases by a small percentage.

This reduction is permanent. Even if you live to 100, your monthly payment will never increase to match what you would have received had you waited. However, if you claim early and continue working, the SSA will reduce your benefit further if your earnings exceed a certain limit — in 2024, that limit is $23,400 per year, though this amount changes annually. Once you reach your full retirement age, this earnings limit no longer applies.

How waiting past full retirement age increases your payment

For each year you delay claiming after your full retirement age, your monthly benefit grows by approximately 8 percent per year. This increase continues until you turn 70. If your full retirement age is 67 and you wait until 70, your monthly benefit will be about 24 percent higher than it would have been at 67.

This delayed retirement credit applies only if you have not yet claimed. Once you claim, the increases stop. The SSA does not automatically apply these credits — you must wait to claim in order to receive them. Some people find that waiting makes financial sense if they expect to live well into their 80s or 90s, while others need the income sooner.

How your work history affects your benefit amount

Your Social Security benefit is based on your average earnings over your highest 35 years of work. The SSA calculates this by taking your earnings record, adjusting for inflation, and then computing an average. If you worked fewer than 35 years, the SSA counts the missing years as zero, which lowers your average and your benefit.

You need at least 40 work credits to receive retirement benefits. In 2024, you earn one credit for each $1,730 in wages you pay Social Security taxes on, and you can earn a maximum of four credits per year. This means you need roughly 10 years of work history to may have access to for benefits. The SSA maintains a record of your earnings and credits, which you can view online through your personal account at ssa.gov.

How to start the claiming process

You can claim Social Security retirement benefits through three methods: online at ssa.gov, by phone at 1-800-772-1213, or in person at your local Social Security office. The online process is usually the fastest — you can create an account, fill out the application, and submit it without waiting. The phone line has wait times that vary by time of day and season, typically ranging from 15 minutes to over an hour during peak periods.

When you claim, you will need your Social Security number, birth certificate, proof of citizenship or legal residency, and your bank account information for direct deposit. The SSA will review your work history and calculate your benefit. Processing typically takes two to four weeks. Your first payment usually arrives within three to five business days of approval, though the exact timing depends on your bank.

What happens if you claim and then change your mind

If you claim before your full retirement age and then decide you want to wait, you have limited options. Within 12 months of claiming, you can withdraw your application and repay all benefits you received. This restarts the clock — your benefit amount will be recalculated as if you had never claimed. After 12 months, you cannot withdraw your application.

If you have already reached your full retirement age, you can suspend your benefits and let them grow until age 70. This is different from withdrawing — you do not have to repay anything. However, if you are married, suspending your benefits may affect your spouse's benefits, so it is worth discussing with the SSA before you decide.

Frequently Asked Questions

Can I work and collect Social Security at the same time?

Yes, but if you claim before your full retirement age and earn more than $23,400 per year (in 2024), the SSA will reduce your benefit by $1 for every $2 you earn above that limit. Once you reach your full retirement age, you can earn any amount without penalty. This earnings limit changes each year.

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

If you were born on January 1st, the SSA treats you as if you were born on December 31st of the previous year. This affects which birth year's full retirement age applies to you. You can confirm your exact full retirement age by contacting the SSA or checking your online account.

Do I have to claim at my full retirement age?

No. You can claim anytime between 62 and 70. Claiming earlier means a smaller monthly payment; claiming later means a larger one. There is no requirement to claim at any specific age, though benefits stop increasing at 70.

What if I never worked or worked very few years?

You need 40 work credits (roughly 10 years of work) to receive retirement benefits on your own record. If you do not have 40 credits, you may be able to receive benefits based on a spouse's or ex-spouse's work history, though different rules apply. Contact the SSA to discuss your specific situation.

Can my benefit amount change after I start collecting?

Yes. The SSA adjusts all benefits each year for inflation through a cost-of-living adjustment (COLA). Additionally, if you continue working after you claim, your benefit may be recalculated if your recent earnings are higher than some of your earlier years. The SSA will notify you of any changes.