You can start collecting Social Security retirement benefits as early as age 62, but your monthly payment will be smaller than if you wait
The earliest age to claim Social Security retirement benefits is 62. However, claiming at 62 means you receive a permanently reduced monthly payment — typically 30 percent less than you would get at your full retirement age. The longer you wait to claim, the larger your monthly benefit becomes, up until age 70, when the increase stops.
Your full retirement age depends on the year you were born. For people born in 1943 or later, full retirement age ranges from 66 to 67. If you claim at your full retirement age, you receive 100 percent of your calculated benefit. If you delay claiming past your full retirement age, your benefit grows by about 8 percent per year until age 70.
The choice between claiming early, at full retirement age, or later is a financial decision that depends on your health, life expectancy, current income, and other sources of retirement money. There is no single "right" age — it depends on your situation.
Key Takeaways
- You can claim Social Security retirement benefits starting at age 62, but your monthly payment will be reduced if you claim before your full retirement age.
- Your full retirement age is between 66 and 67, depending on your birth year, and claiming at that age gives you your full calculated benefit.
- Waiting until age 70 to claim gives you the maximum monthly benefit, which is about 24 percent more than claiming at full retirement age.
- Claiming early, at full retirement age, or delaying are all valid choices depending on your health, income needs, and other retirement savings.
Full Retirement Age by Birth Year
Social Security uses a sliding scale for full retirement age based on when you were born. The Social Security Administration gradually raised the full retirement age starting with people born in 1943, moving it from 65 to 67 over a 22-year period.
| Birth Year | Full Retirement Age |
|---|---|
| 1943–1954 | 66 |
| 1955 | 66 and 2 months |
| 1956 | 66 and 4 months |
| 1957 | 66 and 6 months |
| 1958 | 66 and 8 months |
| 1959 | 66 and 10 months |
| 1960 or later | 67 |
If you were born on January 1 of any year, you are considered to have been born in the previous year for Social Security purposes. You can find your exact full retirement age on your Social Security statement or by using the Social Security Administration's online calculator.
How Much Your Benefit Reduces If You Claim at 62
Claiming at 62 instead of waiting for your full retirement age results in a permanent reduction to your monthly benefit. The reduction is not temporary — it applies to every payment you receive for the rest of your life, and it also affects any survivor benefits your family members may receive based on your record.
The exact reduction depends on how many months early you claim. If your full retirement age is 67 and you claim at 62, you are claiming 60 months early, which results in roughly a 30 percent reduction. If your full retirement age is 66 and you claim at 62, you are claiming 48 months early, which results in roughly a 25 percent reduction. The Social Security Administration can tell you your specific reduction amount before you claim.
For example, if your full benefit at age 67 would be $1,500 per month, claiming at 62 might reduce that to around $1,050 per month. Over a 20-year retirement, that difference adds up to more than $100,000 in lost benefits.
How Much Your Benefit Increases If You Wait Past Full Retirement Age
For every year you delay claiming after your full retirement age, your monthly benefit grows by approximately 8 percent per year. This increase continues until age 70, after which it stops. Waiting from age 67 to age 70 means your monthly benefit is roughly 24 percent higher than it would be at 67.
Using the same example as above, if your full benefit at 67 is $1,500 per month, waiting until 70 could increase your monthly payment to around $1,860. Even though you receive fewer total payments by waiting, the higher monthly amount often means you receive more money over your lifetime if you live into your mid-80s or beyond.
The break-even point — where the total amount you receive by waiting equals what you would have received by claiming early — typically occurs around age 80 or 81. If you expect to live past that age and do not need the money immediately, waiting usually results in more total lifetime benefits.
Earning Income While Collecting Social Security Before Full Retirement Age
If you claim Social Security before your full retirement age and continue to work, Social Security will reduce your benefits based on your earnings. For 2024, Social Security reduces your benefit by $1 for every $2 you earn above the annual earnings limit, which changes each year. In the year you reach your full retirement age, the reduction is $1 for every $3 earned above a different limit, but only for earnings before the month you reach full retirement age.
Once you reach your full retirement age, you can earn as much as you want without any reduction to your Social Security benefits. This is an important factor if you plan to keep working — claiming early and continuing to work may result in little or no benefit payment until you reach full retirement age.
You should contact Social Security directly to understand how your specific earnings will affect your benefits, since the calculation depends on your exact income and the month you claim.
How to Claim Social Security Retirement Benefits
You can claim Social Security retirement benefits online through the Social Security Administration's website, by phone at 1-800-772-1213, or by visiting your local Social Security office in person. You do not need to wait until your birthday or any specific date — you can claim any month after you turn 62.
To claim, you will need to provide proof of age (such as a birth certificate), proof of citizenship or legal residency, and proof of income (such as W-2 forms or tax returns). If you have been married, you may also need divorce documents or a spouse's death certificate, depending on your situation.
The Social Security Administration recommends claiming about three months before you want your benefits to start, since processing can take time. You can check the status of your claim online or by calling the number above.
Frequently Asked Questions
Can I change my mind after I start collecting Social Security?
Yes, but only within limits. If you claimed within the past 12 months, you can withdraw your claim and repay all benefits you received. This resets your record as if you never claimed. After 12 months, you cannot withdraw, but you can suspend your benefits at full retirement age or later, which allows them to continue growing until age 70.
What happens to my Social Security if I'm still working at 62?
If you claim at 62 and earn above the annual limit, Social Security will reduce your monthly payment. Once you reach your full retirement age, the earnings limit no longer applies and you receive your full benefit regardless of how much you earn. The reduction is temporary, not permanent.
Do I have to claim Social Security at my full retirement age?
No. You can claim anytime between 62 and 70. Claiming earlier means smaller monthly payments but more total payments over time. Claiming later means larger monthly payments but fewer of them. The choice depends on your health, life expectancy, and financial needs.
Can my spouse claim benefits based on my Social Security record?
Yes. A spouse age 62 or older can claim benefits based on your record, even if you have not claimed yet. A spouse caring for your child under age 16 can also claim at any age. The amount they receive depends on their age and relationship to you.