You can draw Social Security retirement benefits as early as age 62, but your monthly payment will be smaller than if you wait

The earliest you can claim Social Security retirement benefits is age 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, which ranges from 66 to 67 depending on your birth year. If you wait until age 70, your monthly benefit increases by about 8 percent for each year you delay past your full retirement age, up to age 70.

The choice between claiming early, at full retirement age, or delaying is a trade-off between getting money sooner versus getting a larger monthly amount. There is no single "right" answer — it depends on your health, how long you expect to live, whether you still work, and whether you need the income now.

Key Takeaways

  • You can claim Social Security as early as age 62, but your monthly payment will be reduced by about 30 percent compared to waiting until 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 standard benefit amount.
  • Waiting until age 70 increases your monthly benefit by roughly 8 percent per year of delay, but you receive fewer total payments over your lifetime if you die before 80.
  • If you claim before full retirement age and continue working, Social Security will reduce your benefit by $1 for every $2 you earn above an annual limit, which changes yearly.
  • You must have earned enough work credits — typically 40 credits over your lifetime, with at least 10 years of work — to receive any retirement benefit.

How your birth year determines your full retirement age

Social Security defines a full retirement age based on when you were born. This is the age at which you receive your standard benefit amount with no reduction. For people born in 1943 or later, full retirement age is not 65 — it ranges from 66 to 67.

If you were born between 1943 and 1954, your full retirement age is 66. If you were born in 1960 or later, it is 67. For birth years in between, full retirement age increases by two months for each year. The Social Security Administration publishes a full chart on its website, and you can also call 1-800-772-1213 to confirm your full retirement age.

Knowing your full retirement age matters because it is the baseline for calculating how much your benefit changes if you claim early or delay. Every year you claim before full retirement age, your benefit is reduced. Every year you delay past full retirement age (up to age 70), your benefit increases.

What happens if you claim at 62

Claiming at 62 gives you the earliest possible payment, but the reduction is permanent. A person born in 1960 with a full retirement age of 67 who claims at 62 receives about 70 percent of their full benefit amount. That 30 percent cut stays in place for the rest of your life, even after you reach full retirement age.

Claiming early makes sense if you need the money now, expect a shorter lifespan due to health issues, or have other sources of income that will support you later. It also makes sense if you are still working but earning below the annual limit — though if you earn above that limit, Social Security will withhold part of your benefit.

The annual earnings limit for 2024 is $23,400 if you have not yet reached full retirement age. For every $2 you earn above that limit, Social Security reduces your benefit by $1. In the year you reach full retirement age, a higher limit applies ($62,160 in 2024), and the reduction only counts earnings before the month you reach full retirement age. Once you reach full retirement age, you can earn any amount without a reduction.

Waiting until full retirement age or beyond

If you wait until your full retirement age to claim, you receive your standard benefit amount with no reduction. This is the benefit amount Social Security calculated based on your earnings history. Many people choose this route because it balances getting a reasonable payment without the permanent cut of claiming at 62.

If you delay past full retirement age, your benefit grows by about 8 percent per year until age 70. Someone born in 1960 with a full retirement age of 67 who waits until 70 receives about 124 percent of their full benefit amount. After age 70, your benefit no longer increases, so there is no financial reason to delay beyond 70.

Delaying makes sense if you are in good health, expect to live into your mid-80s or beyond, have other income to live on now, or want to maximize the benefit for a surviving spouse. Spouses and ex-spouses may receive benefits based on your earnings record, and delaying increases those benefits too.

How work credits affect when you can claim

To receive any Social Security retirement benefit, you must have earned enough work credits during your lifetime. You earn one credit for each $1,730 of wages or self-employment income in 2024 (this amount changes yearly). You can earn up to four credits per year, so you need roughly 10 years of work to earn the 40 credits required for retirement benefits.

The 40-credit requirement is the same regardless of your age. You cannot claim at 62 if you have only 30 credits, even if you are old enough. You must have the full 40 credits. You can check how many credits you have earned by creating an account on ssa.gov and viewing your Social Security Statement, or by calling 1-800-772-1213.

If you do not have 40 credits, you can continue working to earn more. Each year you work and earn above the annual threshold, you add credits toward the 40 needed. Once you reach 40 credits, you become may be able to access to claim at any age 62 or older (assuming you meet the age requirement).

Survivor and spousal benefits tied to your claim age

When you claim Social Security, you are not just deciding about your own payment — you are also setting the benefit amount for your spouse and any children under 19 (or 19 if still in high school). If you claim early, their benefits are also reduced. If you delay, their benefits increase.

A surviving spouse can claim benefits as early as age 60 (or age 50 if disabled), but the reduction is larger than for retirement benefits. A spouse who is caring for your child under 16 can claim at any age. If you die before claiming, your family may still receive survivor benefits based on your earnings record, but the amount depends on your age at death and your earnings history.

Some people delay claiming partly to maximize the benefit their spouse will receive if they die first. This is especially common in couples where one person has significantly higher lifetime earnings.

How to claim and what documents you will need

You can claim Social Security online at ssa.gov, by phone at 1-800-772-1213, or in person at your local Social Security office. Online is usually the fastest route — you create an account, fill out the application, and submit it. Processing typically takes two to four weeks.

You will need your Social Security number, birth certificate, proof of citizenship or legal residency, and a bank account number for direct deposit. If you are claiming as a spouse or ex-spouse, you will also need your spouse's Social Security number and proof of marriage or divorce. Have these documents ready before you start the application.

You can claim up to four months before the month you want your benefits to start. Many people claim in the month they turn 62, at full retirement age, or at 70, but you can claim at any age 62 or older if you meet the work credit requirement. Social Security will tell you the effective date of your claim during the application process.

Frequently Asked Questions

Can I change my mind after I claim?

Yes, but only within limits. If you claimed within the past 12 months, you can withdraw your application and repay all benefits received. This resets your claim, and you can file again later at a higher benefit amount. After 12 months, you cannot withdraw, but you can request a one-time increase if you have not yet reached full retirement age.

What if I am still working when I turn 62?

You can claim at 62 and keep working, but Social Security will reduce your benefit if you earn above the annual limit. Once you reach full retirement age, the earnings limit no longer applies, and you receive your full benefit regardless of how much you work.

Do I have to claim at my full retirement age?

No. You can claim anytime between 62 and 70. Claiming before full retirement age means a permanent reduction. Claiming after full retirement age means a permanent increase. The choice is yours based on your circumstances.

What happens if I was born outside the United States?

You can still receive Social Security if you have a valid work visa or green card and have earned 40 work credits. You must be in the United States when you apply, or apply through a U.S. embassy or consulate. Citizenship is not required, but legal residency or work authorization is.

Can I receive Social Security and a pension at the same time?

Yes, but if your pension is from work where you did not pay Social Security taxes, a rule called the Government Pension Offset may reduce your spousal or survivor benefit. This does not affect your own retirement benefit. Ask Social Security about how this rule applies to your specific pension.