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, which ranges from 66 to 67 depending on your birth year. If you wait until 70, your monthly benefit grows by 8 percent for each year you delay past your full retirement age, up to a maximum increase of 24 percent.
The choice between claiming early, at full retirement age, or delaying is a trade-off between taking less money per month now versus more money per month later. There is no single "right" answer — it depends on your health, how long you expect to live, whether you need the money now, and whether you plan to work while collecting benefits.
Key Takeaways
- You can claim Social Security as early as age 62, but your monthly payment will be reduced by roughly 30 percent compared to waiting until full retirement age.
- Your full retirement age (when you receive 100 percent of your benefit) is 66 or 67, depending on the year you were born.
- Delaying your claim until age 70 increases your monthly benefit by 8 percent per year, for a maximum increase of 24 percent above your full retirement age amount.
- 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 (the limit changes yearly).
- You can change your claim decision within 12 months of claiming, but the rules for doing so depend on your age and when you claimed.
How your birth year determines your full retirement age
Social Security defines full retirement age as the age at which you receive your complete, unreduced benefit. This age is not 65 for everyone — it depends on when you were born.
If you were born between 1943 and 1954, your full retirement age is 66. If you were born between 1955 and 1960, your full retirement age is between 66 and 67 (increasing by two months for each year of birth). If you were born in 1960 or later, your full retirement age is 67. You can find your exact full retirement age on the Social Security Administration website or by calling 1-800-772-1213.
What happens if you claim at 62 versus waiting
Claiming at 62 gives you access to your benefit immediately, but the monthly amount is permanently reduced. The reduction is roughly 30 percent below your full retirement age benefit, though the exact percentage varies slightly depending on your birth year. This reduction stays in place for the rest of your life — you do not get a raise to the full amount later.
Claiming at your full retirement age gives you 100 percent of your calculated benefit. Waiting until 70 increases your monthly payment by 24 percent above that full retirement age amount. The longer you live in retirement, the more total money you receive by waiting, because the higher monthly payment eventually makes up for the years you did not collect.
The break-even point — where waiting catches up to claiming early — typically occurs in the early 80s. If you expect to live well into your 80s or 90s, waiting usually results in more total lifetime benefits. If you have health concerns or need the money now, claiming at 62 may make more sense.
Earning limits if you claim before full retirement age
If you claim Social Security before reaching your full retirement age and you continue to work, Social Security will reduce your benefit based on your earnings. For 2024, if you earn more than $23,400 per year, your benefit is reduced by $1 for every $2 you earn above that limit. This earnings test applies only in the years before you reach full retirement age.
The earnings limit changes each year, so check the Social Security Administration website for the current year's threshold. Once you reach your full retirement age, you can earn as much as you want without any reduction to your benefit, even if you have not yet claimed.
The earnings test can significantly reduce your monthly payment if you are working full-time. For example, if you earn $43,400 per year and claimed at 62, you would lose $10,000 in benefits that year ($43,400 minus $23,400 equals $20,000; divided by 2 equals $10,000). This is one reason many people delay claiming until they stop working or reduce their hours.
How to claim and what documents you need
You can claim Social Security online through the Social Security Administration website, by phone at 1-800-772-1213, or in person at your local Social Security office. You do not have to wait until your birthday to claim — you can apply up to four months before you turn 62.
To claim, you will need your Social Security number, birth certificate, proof of citizenship or legal residency, and a current government-issued photo ID. If you were married, you may also need divorce papers or your spouse's death certificate, depending on your situation. The Social Security Administration will tell you exactly what documents to bring when you contact them.
Processing typically takes two to three weeks if you apply online or by phone, or longer if you apply in person. You can check the status of your application online or by calling the same number.
Spousal and survivor benefits tied to your claim age
If you are married, your spouse may be able to claim a benefit based on your work record. The amount your spouse receives depends partly on when you claim. If you claim at 62, your spouse's maximum benefit is reduced. If you wait until full retirement age or later, your spouse's benefit is higher.
Similarly, if you pass away, your surviving spouse and children may receive benefits based on your earnings record. The total amount available to your family is fixed, but it is divided among survivors. Claiming your own benefit early does not increase what your family receives if you die — it may actually reduce it, because the family benefit is calculated based on the age at which you claimed.
Changing your claim decision within 12 months
If you claimed Social Security and changed your mind within 12 months, you can withdraw your claim and reapply later. To do this, you must repay all the benefits you received, including any amounts paid to your spouse or family members. You then have until age 70 to claim again, and your new benefit will be higher because you waited longer.
This option is useful if you claimed at 62 but realized you are still working and the earnings test is reducing your benefit significantly, or if your health has improved and you now expect to live much longer. However, repaying a year or more of benefits can be a large sum of money, so this strategy works best if you have the funds available.
After 12 months, you cannot withdraw your claim. You can still delay receiving benefits and let them grow, but you cannot undo the claim itself or get back the money you already received.
Frequently Asked Questions
Can I claim Social Security if I am still working full-time?
Yes, but if you claim before full retirement age, your benefit will be reduced based on your earnings. For 2024, you lose $1 in benefits for every $2 you earn above $23,400 per year. Once you reach full retirement age, you can work and earn as much as you want without any reduction to your benefit.
What if I was married more than once?
You may be able to claim on more than one ex-spouse's record if each marriage lasted at least 10 years, you are at least 62, and you are not currently married. Social Security will pay you the higher of your own benefit or your ex-spouse's benefit, not both. Contact Social Security to discuss your specific situation.
Does claiming Social Security affect my Medicare coverage?
No. You become may be able to access for Medicare at 65 regardless of whether you have claimed Social Security. However, if you delay claiming Social Security past 65, you should still sign up for Medicare during your initial enrollment window to avoid late-enrollment penalties on your premiums.
What happens to my benefits if I move out of the country?
You can receive Social Security benefits while living in most countries, but not all. The rules vary by country. Contact Social Security before you move to confirm whether your benefits will continue and what paperwork you may need to provide.
Can I claim Social Security if I am self-employed?
Yes. Self-employed income counts toward your Social Security record the same way W-2 wages do. You pay both the employee and employer portions of Social Security tax (15.3 percent total), which you report on your tax return. The earnings test still applies if you claim before full retirement age.