How much you receive depends on your work history and when you start

Social Security sends you a monthly check based on two things: how much you earned during your working years, and what age you started receiving payments. The Social Security Administration (SSA) calculates your benefit amount using your highest 35 years of earnings, adjusted for inflation. If you worked fewer than 35 years, they count zeros for the missing years, which lowers your total.

The age you claim matters enormously. You can start as early as 62, but your monthly payment will be smaller — roughly 30 percent less than if you waited until your full retirement age (which ranges from 66 to 67 depending on your birth year). If you wait until 70, your payment increases by about 8 percent for each year you delay past your full retirement age. Most people receive somewhere between $1,000 and $3,000 per month, but this varies widely based on individual work history.

The SSA sends payments on a schedule tied to your birth date. If you were born between the 1st and 10th of the month, you receive payment on the second Wednesday. If born between the 11th and 20th, you receive it on the third Wednesday. If born after the 20th, you receive it on the fourth Wednesday. Payments arrive by direct deposit to your bank account or, if you request it, by paper check.

Key Takeaways

  • Your monthly payment amount is based on your 35 highest-earning years and the age you start receiving benefits.
  • Claiming at 62 gives you a smaller monthly payment than waiting until 66 or 67, but you receive payments for more years overall.
  • Payments arrive by direct deposit on a schedule based on your birth date, between the second and fourth Wednesday of each month.
  • If you continue working after you start receiving benefits, your payment may be reduced until you reach your full retirement age.
  • Your spouse and children may also receive payments based on your work record, even if they never worked.

What happens to your payment if you keep working

If you claim Social Security before your full retirement age and continue to work, the SSA reduces your benefit by $1 for every $2 you earn above an annual limit. For 2024, that limit is $23,400 per year. This reduction applies only until you reach your full retirement age; after that month, you can earn any amount without penalty.

The reduction is temporary and not permanent. Once you reach full retirement age, the SSA recalculates your benefit to account for the months you did not receive a full payment, and your monthly amount increases. This is one reason some people delay claiming: they can continue earning without a reduction to their benefit.

Payments to family members on your record

Your spouse, ex-spouse, and unmarried children under 19 (or up to 23 if still in high school full-time) can receive payments based on your work record. Your spouse must be at least 62 years old to claim, or any age if they are caring for a child under 16 on your record. An ex-spouse can claim at 62 if the marriage lasted at least 10 years and you are at least 62 yourself.

Each family member receives a separate payment, but there is a family maximum. The total amount paid to all family members combined cannot exceed 150 to 180 percent of your primary benefit amount. If multiple family members claim, the SSA divides the family maximum among them, which may reduce each person's individual payment.

Survivor benefits if you pass away

When you die, your family may receive survivor benefits. Your widow or widower can receive a payment at 60 years old (or 50 if disabled), or any age if caring for a child under 16. Your unmarried children under 19 (or 23 if in high school full-time) receive payments, and your parents may receive benefits if you were supporting them and they are at least 62.

Survivor benefits are not automatic. Your family must contact the SSA to report your death and request benefits. They will need your Social Security number, birth certificate, and proof of the family relationship. The SSA processes survivor claims within two to three weeks in most cases.

How the SSA adjusts payments each year

Every January, the SSA increases all benefit payments by a cost-of-living adjustment (COLA). This percentage varies each year based on inflation. In recent years, COLA increases have ranged from 0 percent to over 8 percent, depending on the year. The SSA announces the new COLA in October, and the increase takes effect in January.

You do not need to do anything to receive the COLA increase. It happens automatically. The SSA sends a notice in December showing your new payment amount for January. If you have questions about the adjustment, you can call the SSA at 1-800-772-1213 or visit your local Social Security office.

Taxes on your Social Security income

Depending on your total income, a portion of your Social Security benefits may be subject to federal income tax. If your combined income (adjusted gross income plus half your Social Security benefits) exceeds certain thresholds, you may owe tax on up to 85 percent of your benefits. For 2024, the thresholds are $25,000 for single filers and $32,000 for married couples filing jointly.

State taxes vary. Some states do not tax Social Security benefits at all, while others tax them the same way the federal government does. Check your state's tax rules or speak with a tax professional to understand your specific situation. The SSA sends a Form SSA-1099 each January showing the total benefits you received in the previous year, which you use when filing your tax return.

What to do if your payment stops or changes unexpectedly

If your payment does not arrive on your scheduled date, contact the SSA immediately. Payments can be delayed if there is a problem with your bank account, if the SSA needs to verify information, or if there is a processing error. Call 1-800-772-1213 to report a missing payment and ask what happened.

If your payment amount changes without explanation, the SSA should have sent you a notice explaining the reason. Common reasons include a change in your work status, a change in family circumstances, or an error in your record. Review any notice you received, and if you disagree with the change, you can request an explanation or file an appeal with the SSA.

Frequently Asked Questions

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

Yes, but if you claim before your full retirement age, your payment will be reduced by $1 for every $2 you earn above $23,400 per year. Once you reach full retirement age, you can work and earn any amount without a reduction to your benefit.

What if I claimed too early and regret it?

You can request to withdraw your claim within 12 months of starting benefits, repay what you received, and reapply later at a higher rate. After 12 months, you cannot withdraw, but you can request a voluntary suspension at your full retirement age to allow your benefit to grow until age 70.

Do I have to report my income to Social Security?

If you claim before your full retirement age and work, you must report your earnings to the SSA. You can report online at ssa.gov, by phone at 1-800-772-1213, or in person at your local office. Underreporting can result in overpayment that you will have to repay.

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

You can receive Social Security benefits while living in most countries, but some countries have restrictions. Contact the SSA before you move to confirm your benefits will continue. You may need to complete additional verification steps or visit a U.S. embassy to certify you are still living.

How do I know if my payment amount is correct?

Review your Social Security statement, which you can view online at ssa.gov by creating an account. The statement shows your earnings record and your estimated benefit amount at different claiming ages. If you see an error in your earnings, contact the SSA to correct it before you claim.