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 begin 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 get at your full retirement age. The longer you wait to claim, the larger your monthly check becomes, up until age 70, when the increase stops.
Your full retirement age — the age at which you receive your standard 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 were born in 1960 or later, your full retirement age is 67.
The choice between claiming early, at full retirement age, or later is a financial decision that depends on your health, life expectancy, work status, and household income. There is no single "right" answer for everyone.
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, depending on your birth year, and claiming at that age gives you your standard benefit amount.
- Waiting until age 70 increases your monthly payment by 8 percent for each year you delay past full retirement age, up to a maximum increase of 24 percent.
- If you claim before full retirement age and continue working, your benefits may be reduced if your earnings exceed a certain annual limit.
How claiming age affects your monthly payment
Social Security uses a formula to calculate your benefit based on your lifetime earnings record. Once that base amount is set, your claiming age determines what percentage of that amount you actually receive each month.
Claiming at 62 reduces your payment by about 30 percent. Claiming at your full retirement age gives you 100 percent of your calculated benefit. Claiming at 70 increases your payment by 24 percent above your full retirement age amount — an 8 percent boost for each year you delay between full retirement age and 70.
These percentages are fixed by law and do not change. A person born in 1960 who claims at 62 will always receive roughly 70 percent of their full retirement age benefit, regardless of when they actually file.
What happens if you work while claiming Social Security
If you claim before your full retirement age and earn income from work, Social Security reduces your benefits based on how much you earn. The reduction applies only to the year you claim and to years before you reach full retirement age.
For 2024, if you are under full retirement age for the entire year, Social Security deducts $1 in benefits for every $2 you earn above $23,400. In the year you reach full retirement age, the limit is higher, and the deduction applies only to earnings before the month you reach full retirement age.
Once you reach your full retirement age, you can earn any amount without a reduction to your benefits. This is one reason some people delay claiming until full retirement age if they plan to keep working.
Full retirement age by birth 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 and later | 67 |
Factors to consider when deciding when to claim
Your health and family longevity are important considerations. If you expect to live well into your 80s or 90s, waiting until 70 means you receive a much larger total amount of benefits over your lifetime, even though you start collecting later. If your health is poor, claiming earlier may make sense because you receive payments sooner.
Your current income also matters. If you are still working and earning a substantial salary, claiming before full retirement age may result in reduced benefits due to the earnings limit. Waiting until full retirement age or later removes that penalty.
Household income affects taxes on Social Security benefits. If you have other income sources — such as pensions, investment earnings, or a spouse's benefits — your combined income may push some of your Social Security into taxable territory. A financial advisor or tax professional can help you understand how claiming age affects your overall tax situation.
If you are married, your spouse's benefit may depend on your claiming decision. A higher benefit for you can mean a higher survivor benefit for your spouse if you pass away, or a higher spousal benefit if your spouse claims on your record.
How to find your full retirement age and benefit estimate
You can create a my Social Security account at ssa.gov to view your earnings record, check your full retirement age, and see an estimate of your benefits at different claiming ages. The account shows you what you earned each year and confirms that Social Security has the correct information about your work history.
Your benefit estimate on my Social Security shows three scenarios: benefits at 62, at full retirement age, and at 70. These are estimates based on your current earnings record and assume you continue working until the age shown. If you stop working earlier or earn significantly more, your actual benefit will differ.
You can also call Social Security at 1-800-772-1213 to request a benefit estimate or ask questions about your specific situation. Representatives can answer questions about how your work history, age, and family situation affect your benefits.
Frequently Asked Questions
Can I change my mind after I start collecting Social Security?
Yes, but only within a limited window. If you claimed within the past 12 months, you can withdraw your claim and repay the benefits you received. This resets your claim, and you can file again later at a higher benefit amount. After 12 months, you cannot withdraw your claim, but you can suspend your benefits at full retirement age and let them grow until age 70.
What if I was born outside the United States?
You can receive Social Security benefits if you have a valid Social Security number and meet the work requirements, regardless of where you were born. You must be a U.S. citizen or a lawful permanent resident to receive benefits. Some non-citizens may also be may be able to access under specific conditions. Contact Social Security directly to discuss your situation.
Does my spouse get benefits when I claim?
Your spouse may be able to claim a spousal benefit based on your earnings record once you claim Social Security and are at least 62 years old. A spouse's benefit is typically up to 50 percent of your full retirement age benefit. Your spouse must be at least 62 and married to you for at least one year, or be caring for your child under 16.
What if I claim early but then get a job offer?
If you claimed before full retirement age and then earn income above the annual limit, your benefits will be reduced. However, you are not penalized for earning more — Social Security straightforward withholds benefits until your earnings fall below the limit or you reach full retirement age. Once you reach full retirement age, you can earn any amount without a reduction.