The earliest and full retirement ages for Social Security

You can start collecting Social Security as early as age 62, but the amount you receive each month depends on when you were born and when you claim. The full retirement age — the age at which you receive your complete benefit — ranges from 66 to 67 depending on your birth year. If you claim before full retirement age, your monthly payment will be permanently reduced. If you delay claiming past full retirement age, your monthly payment increases until age 70.

The Social Security Administration (SSA) sets these ages based on your birth year. Someone born in 1943 or earlier has a full retirement age of 66. Someone born between 1943 and 1954 has a full retirement age between 66 and 66 months. Someone born in 1960 or later has a full retirement age of 67. The SSA website has a table showing the exact full retirement age for your birth year.

Key Takeaways

  • You can claim Social Security at 62, but your monthly benefit will be about 30 percent lower than if you wait until full retirement age.
  • Your full retirement age is between 66 and 67, depending on when you were born, and the SSA website shows the exact age for your birth year.
  • Waiting until age 70 to claim increases your monthly benefit by about 8 percent per year past full retirement age.
  • You must have earned enough work credits (typically 40 credits, or about 10 years of work) to receive any Social Security benefit.
  • You can view your estimated benefits and check your work record on the SSA's my Social Security account online.

How claiming early at 62 affects your monthly payment

If you claim Social Security at 62, your monthly benefit is reduced by roughly 30 percent compared to what you would receive at full retirement age. The exact reduction depends on your birth year and how many months early you claim. The SSA calculates this reduction to account for the fact that you will receive payments over a longer period of time.

This reduction is permanent — it does not increase later. Even after you reach full retirement age, your benefit amount stays at the reduced level you locked in at 62. This is why the timing of your claim is an important decision. Some people claim early because they need the money now, while others wait because they expect to live longer and want a larger monthly payment.

What happens if you wait until full retirement age or later

If you wait until your full retirement age to claim, you receive your complete benefit amount with no reduction. This is the baseline benefit the SSA calculates based on your earnings record. Many people choose this timing as a middle ground between claiming early and delaying further.

If you delay claiming past your full retirement age, your benefit increases by about 8 percent for each year you wait, up until age 70. At age 70, the increase stops, so there is no financial benefit to waiting past that age. Someone who waits from age 67 to age 70 would receive roughly 24 percent more per month than they would have at 67. This larger monthly payment continues for the rest of your life.

Work credits and the 10-year rule

To receive any Social Security benefit, you must have earned enough work credits. You earn one credit for each quarter of the year that you earn a certain amount of income (the income threshold changes yearly). Most people need 40 credits total to receive retirement benefits, which usually takes about 10 years of work.

The SSA tracks your work credits based on the Social Security taxes you and your employer pay. If you are self-employed, you pay both the employee and employer portions. You can earn a maximum of 4 credits per year, regardless of how much you earn above the threshold. If you have not worked long enough to earn 40 credits, you will not receive a retirement benefit, though you may be able to receive other types of benefits based on a spouse's or ex-spouse's record.

Checking your work record and estimated benefits

You can view your Social Security work record and estimated benefit amounts by creating a my Social Security account on the SSA's website at ssa.gov. This account shows the credits you have earned, your estimated monthly benefit at different claiming ages (62, full retirement age, and 70), and your earnings history. You should review this information to make sure it is accurate.

If you find an error in your earnings record, you can contact the SSA to correct it. Errors are usually caught within a few years, but it is worth checking periodically. The my Social Security account also lets you request a replacement Social Security card and manage other account details without visiting an office.

How marriage, divorce, and family benefits affect your claim

If you are married, divorced, or widowed, you may be able to receive benefits based on your spouse's or ex-spouse's Social Security record in addition to or instead of your own. A current spouse can receive up to 50 percent of your full retirement age benefit amount. An ex-spouse can receive benefits on your record if you were married for at least 10 years, even if you have remarried, as long as they are at least 62 years old and not currently married.

Children and grandchildren of a Social Security beneficiary may also receive benefits on that person's record. These family benefits do not reduce the amount you receive — they are paid from a separate family benefit pool. The total amount paid to all family members on one person's record is capped at roughly 150 to 180 percent of that person's benefit, depending on the situation.

Government pension offset and windfall elimination provision

If you receive a pension from work where you did not pay Social Security taxes — such as some government jobs, teaching positions, or foreign service work — two rules may reduce your Social Security benefit. The Government Pension Offset reduces spousal or survivor benefits if you receive a non-covered pension. The Windfall Elimination Provision reduces your own retirement or disability benefit if you receive a non-covered pension.

These rules are complex and affect different people in different ways. If you have ever worked for an employer that did not withhold Social Security taxes, you should contact the SSA directly to understand how these rules might affect your benefit. The SSA can provide a detailed estimate based on your specific situation.

Frequently Asked Questions

Can I change my mind after I claim Social Security?

If you claimed within the past 12 months, you can withdraw your claim and repay the benefits you received, which resets your claim date. After 12 months, you cannot withdraw your claim. However, you can suspend your benefits at full retirement age or later, which pauses your payments and allows your benefit to grow until age 70.

What if I am still working when I claim Social Security?

If you claim before full retirement age and earn income above a certain threshold, the SSA will reduce your benefit by $1 for every $2 you earn above the limit. Once you reach full retirement age, there is no earnings limit and no reduction, regardless of how much you work or earn.

How do I know if I have enough work credits?

Log into your my Social Security account at ssa.gov to see your current credit count. You can also call the SSA at 1-800-772-1213 or visit a local Social Security office. Most people need 40 credits for retirement benefits, but you can check your specific requirement based on your age.

Does Social Security count as income for taxes?

Depending on your total income, up to 85 percent of your Social Security benefit may be taxable. The SSA sends a form each year showing how much you received. You may want to consult a tax professional to understand how your benefits affect your tax situation.

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

You can receive Social Security benefits while living in most countries. However, benefits to family members may be affected, and some countries have different rules. Contact the SSA before moving internationally to understand how it affects your specific situation.