You can start Social Security 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, the Social Security Administration reduces your monthly payment by a percentage for each month you claim before your full retirement age — the age at which you receive your complete benefit amount. If you were born in 1943 or later, your full retirement age is between 66 and 67, depending on your birth year.

The later you wait to claim, the larger your monthly check becomes. If you delay claiming until age 70, you receive an 8 percent increase for each year you wait past your full retirement age. This increase stops at 70, so there is no financial benefit to waiting longer than that.

Your choice depends on your health, how long you expect to live, whether you are still working, and whether you need the money now. There is no single "right" age — it is a personal decision based on your circumstances.

Key Takeaways

  • You can claim Social Security as early as age 62, but your monthly payment will be permanently reduced.
  • Your full retirement age — when you get your complete benefit amount — is 66 or 67 depending on your birth year.
  • Waiting until age 70 gives you the highest monthly payment, an 8 percent annual increase over your full retirement age amount.
  • If you claim before your full retirement age and continue working, your benefits may be reduced if your earnings exceed a yearly limit.
  • You can change your claim decision within 12 months of claiming, though this involves repaying benefits already received.

How Your Birth Year Determines Your Full Retirement Age

Your full retirement age is not the same for everyone. The Social Security Administration raised it gradually starting with people born in 1943. If you were born between 1943 and 1954, your full retirement age is 66. If you were born between 1955 and 1959, it falls somewhere between 66 and 67. 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. Knowing this number matters because it is the baseline for calculating both the reduction if you claim early and the increase if you claim late.

What Happens to Your Payment If You Claim at 62

Claiming at 62 means a permanent reduction to your monthly benefit. The reduction is roughly 30 percent if your full retirement age is 67, and roughly 25 percent if your full retirement age is 66. This reduced amount stays the same for the rest of your life — it does not increase to your full amount later.

The reduction is steeper for each month you claim before your full retirement age. For example, claiming one year early costs you more than claiming one month early. This is why the difference between claiming at 62 and claiming at 66 or 67 is substantial.

Some people claim at 62 because they need the money, have health concerns, or do not expect to live into their 80s. Others regret it later if they live longer than expected, because they will have received fewer total dollars over their lifetime. There is no way to know in advance which situation will be yours.

The Advantage of Waiting Until Your Full Retirement Age or Beyond

If you wait until your full retirement age, you receive 100 percent of your benefit amount — the amount the Social Security Administration calculated based on your earnings record. This is your baseline.

For each year you delay claiming past your full retirement age, your monthly payment increases by 8 percent per year. If your full retirement age is 67 and you wait until 70, you receive 24 percent more per month than you would at 67. At 70, the increases stop, so waiting past 70 does not raise your payment further.

Waiting is most advantageous if you are in good health, have family history of longevity, or do not need the money when ready. It is also useful if you are still working and earning a high income, because early claiming can trigger benefit reductions based on your wages.

How Continuing to Work Affects Your Benefits Before Full Retirement Age

If you claim Social Security before your full retirement age and continue working, the Social Security Administration reduces your benefits if your earnings exceed a yearly limit. In 2024, that limit is $23,400, though this amount changes each year. For every $2 you earn above the limit, your benefits are reduced by $1.

This earnings test applies only until you reach your full retirement age. Once you hit that age, you can earn any amount without a benefit reduction, even if you have not yet claimed.

If you are still working and earning a substantial income, claiming at 62 may not make financial sense. You might receive little or nothing that year because of the earnings reduction, and you would still have the permanent reduction to your monthly payment. Waiting until you stop working or reach your full retirement age often results in a larger total benefit.

Spousal and Survivor Benefits Have Different Age Rules

If you are married, divorced, or widowed, you may be may have access to to benefits based on your spouse's or ex-spouse's earnings record. The rules for these benefits differ from retirement benefits.

A surviving spouse can claim survivor benefits as early as age 60 (or age 50 if disabled). A divorced ex-spouse can claim on your record at age 62 if the marriage lasted at least 10 years. A current spouse can claim spousal benefits at your full retirement age or later, though some situations allow earlier claims.

These benefits are calculated differently and have their own reduction schedules. If you think you may be may have access to to spousal or survivor benefits, contact the Social Security Administration directly to understand how your specific situation works.

How to Change Your Claim Decision

If you claimed Social Security and later regret the decision, you have limited options. Within 12 months of claiming, you can withdraw your process, repay all benefits you received, and claim again later at a higher amount. This is called a withdrawal.

After 12 months have passed, you cannot withdraw. However, if you have reached your full retirement age, you can suspend your benefits and let them grow until age 70. While suspended, you do not receive payments, but your benefit amount increases by 8 percent per year. You can restart benefits at any point up to age 70.

Both options involve trade-offs. Withdrawing means repaying a large sum of money upfront. Suspending means going without income for a period of time. These are complex decisions, and speaking with a financial advisor or the Social Security Administration can help you understand whether either option makes sense for you.

Frequently Asked Questions

Can I claim Social Security at 62 if I am still working full-time?

Yes, you can claim at 62 while working, but your benefits will be reduced both by your early-claim age and by your earnings if you exceed the yearly limit. In 2024, that limit is $23,400. You may receive very little or nothing in benefits that year. Waiting until your full retirement age or later usually results in a larger total benefit if you are working.

What is the difference between full retirement age and Medicare age?

Full retirement age is when you receive your complete Social Security benefit amount. Medicare may be able to access begins at 65, which is different from your Social Security full retirement age. You can claim Social Security at 62 and wait until 65 for Medicare, or claim Social Security at 70 and have already been on Medicare for five years. The two programs have separate age rules.

If I die before I claim Social Security, does my family get anything?

Yes. Your family members — spouse, children, and dependent parents — may be may have access to to survivor benefits based on your earnings record, even if you never claimed. These benefits are separate from retirement benefits and have their own rules. Contact the Social Security Administration to learn what your family may receive.

Does my state tax affect when I should claim Social Security?

Some states do not tax Social Security benefits, while others do tax a portion of them depending on your total income. Your state's tax rules may influence the financial outcome of claiming early versus late, especially if you have other income. A tax professional or financial advisor can help you model different claiming ages based on your state's rules.

Can I claim Social Security if I never worked?

You must have earned enough work credits to claim retirement benefits on your own record. However, if you are married or divorced, you may be may have access to to spousal or ex-spousal benefits based on your spouse's earnings, even if you never worked. Contact the Social Security Administration to find out whether you have enough credits or whether you may have access to for spousal benefits.