You can claim 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, claiming at 62 means you receive a permanently reduced monthly payment — typically 30 percent less than you would receive at your full retirement age. The trade-off is that you start collecting sooner.

Your full retirement age — the age at which you receive your full benefit amount — depends on the year you were born. For people born in 1943 or later, full retirement age ranges from 66 to 67. If you wait until age 70 to claim, your monthly payment increases by about 8 percent for each year you delay past your full retirement age, up to age 70.

The choice between claiming early, at full retirement age, or at 70 depends on your health, finances, and life circumstances. There is no single "right" answer — the decision is personal.

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 is between 66 and 67 if you were born in 1943 or later, and this is when you receive your standard benefit amount.
  • Waiting until age 70 increases your monthly payment by about 8 percent per year you delay, but you receive fewer total payments over your lifetime if you die before 80.
  • You must have earned enough work credits — typically 40 credits, or about 10 years of work — to claim retirement benefits at any age.
  • You can view your full retirement age and estimated benefit amounts on your Social Security account at ssa.gov.

How your birth year determines your full retirement age

Social Security uses your birth year to calculate your full retirement age. This is the age at which you receive 100 percent of your calculated benefit — not a reduced amount.

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 by logging into your Social Security account at ssa.gov or by calling Social Security at 1-800-772-1213. Your Social Security Statement, which you can access online, also lists this information.

What happens if you claim before your full retirement age

Claiming at 62 is the earliest option, but it comes with a permanent reduction in your monthly benefit. The reduction is roughly 30 percent if you claim at 62 and your full retirement age is 67. If your full retirement age is 66, the reduction is smaller — roughly 25 percent.

This reduction stays in place for the rest of your life. Even after you reach your full retirement age, your payment will not increase to the full amount you would have received if you had waited. The reduction is permanent.

There is one exception: if you claim before your full retirement age and continue to work, Social Security may reduce your payment further if your earnings exceed a certain limit. In 2024, if you earn more than $23,400 per year before your full retirement age, Social Security deducts $1 from your benefit for every $2 you earn above that amount. The limit changes each year.

The benefit of waiting until age 70

If you delay claiming past your full retirement age, your monthly payment increases. For each year you wait between your full retirement age and age 70, your benefit grows by about 8 percent per year. This increase is called a delayed retirement credit.

If your full retirement age is 67 and you wait until 70, your monthly payment will be roughly 24 percent higher than your full retirement age amount. This higher payment continues for the rest of your life and is also passed to your surviving spouse or family members if you die.

The trade-off is that you receive fewer total payments over your lifetime if you die before age 80. However, if you live into your 80s or beyond, waiting until 70 usually results in a larger total amount received over your lifetime.

Work credits and the 10-year rule

To claim Social Security retirement benefits at any age, you must have earned enough work credits. You earn one credit for each $1,730 of wages you earn in a year (this amount changes annually). You can earn up to four credits per year, regardless of when during the year you earn the money.

Most people need 40 credits to claim retirement benefits — this typically means about 10 years of work. If you were born in 1929 or later, 40 credits is the standard requirement. You do not need to have earned these credits consecutively; gaps in your work history are allowed.

You can check how many credits you have earned by viewing your Social Security Statement online at ssa.gov or by calling 1-800-772-1213.

Spousal and survivor benefits have different age rules

If you are married, you may be able to claim a benefit based on your spouse's work record. The earliest age to claim a spousal benefit is 62, but like retirement benefits, claiming early results in a reduced payment. A spouse can receive up to 50 percent of the worker's full retirement age benefit if they wait until their own full retirement age to claim.

Surviving spouses, ex-spouses, and children can also claim benefits based on a worker's record. A surviving spouse can claim as early as age 60 (or age 50 if disabled), and children can claim at any age if they are unmarried and under 19 (or up to 23 if still in high school). These benefits have their own reduction rules if claimed before full retirement age.

How to view your estimated benefits and full retirement age

The easiest way to see your full retirement age and estimated benefit amounts is to create an account at ssa.gov. You will need your Social Security number, email address, and a way to verify your identity. Once logged in, you can view your Social Security Statement, which shows your earnings history and estimated benefits at ages 62, full retirement age, and 70.

If you do not have internet access or prefer to speak with someone, you can call Social Security at 1-800-772-1213. Representatives can answer questions about your full retirement age and provide rough estimates of your benefits, though they may ask you to create an online account for detailed information.

Your estimates are based on your current earnings record and assume you continue to work until the age you claim. If you stop working earlier or earn significantly more or less in the future, your actual benefit may differ from the estimate.

Frequently Asked Questions

Can I change my mind after I claim Social Security?

Yes, but only within a limited window. 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 claim again later at a higher amount. After 12 months, you cannot withdraw your claim, though you can suspend it at your full retirement age to allow your benefit to grow until age 70.

What if I was born on January 1st — which year's rules explore to me?

If you were born on January 1st, Social Security considers you born on December 31st of the previous year. This affects which birth year rules explore to your full retirement age. You can confirm your exact full retirement age on your Social Security Statement or by calling 1-800-772-1213.

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, you should sign up for Medicare even if you do not claim Social Security yet, because waiting past 65 can result in higher premiums for Part B and Part D coverage.

What if I worked outside the United States — do those years count toward my 40 credits?

Work outside the United States generally does not count toward Social Security credits unless you worked for a U.S. employer or were a U.S. citizen. Some countries have agreements with the United States that allow work in those countries to count. Contact Social Security at 1-800-772-1213 to discuss your specific situation.

If I claim at 62, will my payment ever increase?

Your payment will increase each year based on cost-of-living adjustments (COLA), which Social Security announces each October. However, your payment will never increase to the full retirement age amount you would have received if you had waited. The permanent reduction from claiming early stays in place.