You can start Social Security as early as age 62, but your monthly payment will be smaller than if you wait
Social Security retirement benefits begin at different ages depending on when you were born. The earliest you can claim is 62. However, if you claim at 62, your monthly payment is permanently reduced — typically by 25 to 30 percent compared to what you would receive at your full retirement age. The longer you wait to claim, the larger your monthly payment becomes, up until age 70.
Your full retirement age — the age at which you receive your complete benefit amount — depends on your birth year. For people born in 1943 or later, full retirement age ranges from 66 to 67. If you claim before your full retirement age, the reduction is permanent and applies to every payment you receive for the rest of your life.
Key Takeaways
- You can claim Social Security as early as age 62, but your monthly payment will be reduced by roughly 25 to 30 percent for life.
- Your full retirement age — when you receive your complete benefit amount — is between 66 and 67 depending on your birth year.
- Waiting until age 70 increases your monthly payment by about 8 percent for each year you delay past your full retirement age.
- If you continue working after claiming, your benefits may be temporarily reduced if you earn above a certain amount before reaching full retirement age.
- You should contact Social Security directly to understand how your specific birth year and earnings history affect your payment amount.
How your birth year determines your full retirement age
Social Security uses a sliding scale based on when you were born. People born before 1943 have a full retirement age of 65. The age gradually increases for people born after that year.
| 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 1st of any year, Social Security counts you as born in the previous year for these purposes. You can find your exact full retirement age on your Social Security statement or by using the calculator on the Social Security Administration website.
What happens if you claim before your full retirement age
Claiming at 62 instead of waiting until your full retirement age means a permanent reduction in your monthly payment. 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 typically reduces your benefit by about 30 percent.
This reduction stays in place for your entire life. If you live a long time, you will receive fewer total dollars over your lifetime than someone who waited to claim. However, if you claim early and pass away within a few years, you will have received payments sooner. The break-even point — when waiting to claim would have given you more total money — is typically around age 80 or 81, though this varies based on your individual circumstances.
If you are still working when you claim before your full retirement age, Social Security will reduce your benefits further if your earnings exceed a limit set each year. Once you reach your full retirement age, this earnings limit no longer applies, and you receive your full reduced benefit no matter how much you earn.
Delaying your claim past full retirement age increases your payment
For each year you delay claiming past your full retirement age, your monthly payment increases by about 8 percent per year. This increase, called delayed retirement credits, continues until age 70. If your full retirement age is 67 and you wait until 70, your monthly payment will be about 24 percent higher than it would be at 67.
Waiting until 70 gives you the highest possible monthly payment. After age 70, your payment no longer increases, so there is no financial reason to delay beyond that age. However, some people choose to delay past 70 if they are still working and do not need the income yet.
Spousal and survivor benefits have their own age rules
If you are married, you may be may have access to to a benefit based on your spouse's earnings record. The earliest you can claim a spousal benefit is age 62, though the amount will be reduced. Your full retirement age for spousal benefits is the same as your full retirement age for your own retirement benefit.
If your spouse has passed away, you may be may have access to to survivor benefits. Widow or widower benefits can begin as early as age 60 (or age 50 if you are disabled). Children of a deceased worker can receive benefits at any age if they are under 19 and still in high school, or under 16 if not in school. A surviving spouse caring for a child under 16 can receive benefits at any age.
What to ask your Social Security representative
Before you claim, contact Social Security to discuss your specific situation. You can reach them by phone at 1-800-772-1213, visit a local office, or create an account on ssa.gov to view your earnings record and benefit estimates.
Ask your representative: What is my full retirement age based on my birth date? What will my monthly payment be if I claim at 62, at my full retirement age, and at 70? How will my earnings affect my benefits if I continue working? Am I may have access to to any spousal or survivor benefits? What documents do I need to bring when I claim?
Social Security can also explain how your benefits might change based on your life expectancy, health status, and family situation. Getting this information before you claim helps you make a decision that fits your circumstances.
Frequently Asked Questions
Can I change my mind after I start collecting Social Security?
Yes, but only within certain limits. If you claimed within the last 12 months, you can withdraw your claim and repay what you received. This resets your claim, and you can file again later at a higher payment amount. After 12 months, you cannot withdraw your claim, but you can suspend your benefits at your full retirement age and let them grow until 70.
What if I was born on December 31st?
Social Security counts you as born on January 1st of the following year for purposes of determining your full retirement age and when you can claim. This means you reach claiming age one day earlier than your actual birthday.
Do I have to claim Social Security when I turn 62?
No. Claiming is optional. You can wait as long as you want, up until age 70. There is no penalty for waiting, and your payment will be larger the longer you delay. However, once you reach 70, there is no benefit to waiting further.
Will my benefit change if I move to another country?
You can receive Social Security benefits while living outside the United States, with some exceptions. Citizens of certain countries may have restrictions. Contact Social Security before you move to understand how it affects your specific situation.
What happens to my benefits if I go back to work after I claim?
If you claimed before your full retirement age and earn more than the annual limit (which changes each year), Social Security will reduce your benefits by $1 for every $2 you earn above that limit. Once you reach your full retirement age, this limit no longer applies, and you keep your full benefit regardless of earnings.