You can start collecting Social Security as early as age 62, but the amount you receive depends on when you claim
The earliest you can claim Social Security retirement benefits is age 62. However, claiming at 62 means you receive a smaller monthly payment than if you wait. The Social Security Administration (SSA) calculates your benefit based on your birth year and the age at which you claim — this is called your primary insurance amount, and it increases the longer you delay.
Your full retirement age — the age at which you receive your full benefit — depends on when you were born. For people born in 1943 or later, full retirement age ranges from 66 to 67. If you claim before full retirement age, your monthly benefit is permanently reduced. If you delay claiming past full retirement age, your benefit increases by roughly 8 percent per year until age 70.
You do not have to claim at any particular age. The decision is yours to make based on your health, finances, and life circumstances. There is no penalty for waiting, and no bonus for claiming early other than receiving payments sooner.
Key Takeaways
- You can claim Social Security as early as age 62, but your monthly payment will be permanently reduced compared to waiting until full retirement age.
- Your full retirement age is between 66 and 67 depending on your birth year, and that is when you receive your full benefit amount.
- Delaying your claim past full retirement age increases your monthly benefit by about 8 percent per year until you reach age 70.
- The SSA sends you a benefit estimate statement that shows what you would receive at ages 62, full retirement age, and 70.
How your birth year determines your full retirement age
The SSA uses a sliding scale based on your birth year to set your full retirement age. People born before 1943 have a full retirement age of 65. For those born between 1943 and 1954, full retirement age is 66. For people born in 1955 or later, full retirement age gradually increases, reaching 67 for those born in 1960 or later.
You can look up your exact full retirement age on the SSA website or by calling 1-800-772-1213. Knowing this number matters because it is the threshold where your benefit stops being reduced for claiming early and starts being increased for claiming late.
What happens to your benefit if you claim at 62
Claiming at 62 reduces your monthly benefit by roughly 25 to 30 percent compared to your full retirement age amount. The exact reduction depends on your birth year. For example, if your full retirement age is 67 and your full benefit would be $1,500 per month, claiming at 62 might give you around $1,050 per month instead — a permanent reduction that applies for the rest of your life.
This reduction is permanent. Even after you reach full retirement age, your benefit does not increase to the full amount. You are locked into the reduced rate. The only exception is if you withdraw your claim within 12 months of filing and repay all benefits you received; this is rare and has strict rules.
Claiming early makes sense if you need the money now, expect to live a shorter life than average, or have other income sources. It does not make sense if you are in good health, have savings to live on, or depend on Social Security as your main income later.
What happens if you wait until full retirement age or later
If you wait until your full retirement age, you receive your full benefit amount with no reduction. This is the baseline benefit the SSA calculated based on your earnings record.
If you delay past full retirement age, your benefit increases by roughly 8 percent per year. This increase continues until age 70. For example, if your full benefit at age 67 is $1,500, waiting until age 70 could give you around $1,860 per month. That higher amount continues for the rest of your life and is also paid to your surviving spouse or ex-spouse if you pass away.
Waiting until 70 makes sense if you are in good health, have other income or savings to live on, and want to maximize your lifetime benefit. The tradeoff is that you receive no payments between full retirement age and 70, so you need to be able to afford that gap.
How to get your benefit estimate before you claim
The SSA sends a benefit estimate statement to workers age 60 and older who are not yet claiming. This statement shows what your benefit would be at ages 62, full retirement age, and 70. You can also create a my Social Security account online at ssa.gov to view your estimate anytime.
To create an account, you need your Social Security number, email address, and a way to verify your identity — usually a phone number, mobile device, or state ID. Once logged in, you can see your earnings record, your estimated benefits at different ages, and your payment history if you are already collecting.
The estimate is based on your actual earnings record and assumes you will continue working until the age you claim. If you plan to stop working earlier, your benefit may be lower. If you plan to work longer, it may be higher.
How work affects your benefit before full retirement age
If you claim before full retirement age and continue working, the SSA reduces your benefit by $1 for every $2 you earn above an annual limit. For 2024, that limit is $23,400, but it changes each year. Once you reach full retirement age, there is no earnings limit — you can work and receive your full benefit.
This earnings test applies only to wages and self-employment income. It does not apply to pensions, investments, rental income, or other sources. If you are still working and considering claiming early, factor in this reduction when you do the math.
Claiming as a spouse or ex-spouse
If you are married, you may be able to claim a benefit based on your spouse's earnings record instead of your own. If you are divorced, you may be able to claim on your ex-spouse's record if the marriage lasted at least 10 years and you are at least 62. These spousal and ex-spousal benefits have their own rules about when you can claim and how much you receive.
Spousal benefits are reduced if you claim before full retirement age, just like retirement benefits. The maximum spousal benefit is roughly 50 percent of the worker's full retirement age benefit, but you receive less if you claim early. To discuss spousal options, contact the SSA directly or speak with a financial advisor who specializes in Social Security.
Frequently Asked Questions
Can I change my mind after I start collecting?
Yes, but only within limits. If you have been collecting for less than 12 months, you can withdraw your claim, repay all benefits you received, and reapply later at a higher age. After 12 months, you cannot withdraw. You can request a one-time benefit increase at full retirement age, but this is a separate process with strict rules.
What if I keep working past age 70?
You can delay claiming past 70, but your benefit does not increase further. The maximum increase stops at age 70. However, delaying past 70 means you receive more payments over your lifetime if you live long enough, because you are collecting a higher monthly amount for more years.
How do I know if I have enough work credits to claim?
You need 40 work credits to claim retirement benefits. You earn up to 4 credits per year based on your earnings. The SSA tracks this automatically. Your benefit estimate statement shows whether you have enough credits. If you do not, you can contact the SSA to find out how many more years of work you need.
Does my state tax my Social Security benefits?
Federal tax rules apply to all states, but some states also tax Social Security benefits. Whether your benefits are taxed depends on your total income and your state of residence. Check your state's tax agency website or ask a tax professional about your specific situation.
What happens to my benefits if I move out of the country?
You can collect Social Security while living in most countries, but not all. The SSA maintains a list of countries where benefits are and are not paid. If you plan to move abroad, contact the SSA before you leave to report your address change and confirm your benefits will continue.