When Is a Good Time to Start Receiving Social Security Benefits?
Reading Time: 2 MinutesLast Updated: February 13, 2017
Enjoying a comfortable retirement is everyone’s dream. For over 80 years, Social Security has been helping people realize those dreams, assisting people through life’s journey with a variety of benefits. It’s up to you as to when you can start retirement benefits. You could start them a little earlier or wait until your “full retirement age.” There are benefits to either decision, pun intended.
Full retirement age refers to the age when a person can receive their Social Security benefits without any reduction, even if they are still working part or full time. In other words, you don’t actually need to stop working to get your full benefits.
For people who attain age 62 in 2017 (i.e., those born between January 2, 1955 and January 1, 1956), full retirement age is 66 and two months. Full retirement age was age 65 for many years. However, due to a law passed by Congress in 1983, it has been gradually increasing, beginning with people born in 1938 or later, until it reaches 67 for people born after 1959.
You can learn more about the full retirement age and find out how to look up your own at www.socialsecurity.gov/planners/retire/retirechart.html.
You can start receiving Social Security benefits as early as age 62 or any time after that. The longer you wait, the higher your monthly benefit will be, although it stops increasing at age 70. Your monthly benefits will be reduced permanently if you start them any time before your full retirement age. For example, if you start receiving benefits in 2017 at age 62, your monthly benefit amount will be reduced permanently by about 26 percent.
On the other hand, if you wait to start receiving your benefits until after your full retirement age, then your monthly benefit will be higher. The amount of this increase is two-thirds of one percent for each month –– or eight percent for each year –– that you delay receiving them until you reach age 70. The choices you make may affect any benefit your spouse or children can receive on your record, too. If you receive benefits early, it may reduce their potential benefit, as well as yours.
You need to be as informed as possible when making any decision about receiving Social Security benefits. Read the publication When to Start Receiving Retirement Benefits at www.socialsecurity.gov/pubs/EN-05-10147.pdf.
If you decide to receive benefits before you reach full retirement age, you should also understand how continuing to work can affect your benefits. Social Security may withhold or reduce your benefits if your annual earnings exceed a certain amount. However, for every month benefits are withheld, it increases your future benefits. That’s because at your full retirement age Social Security will recalculate your benefit amount to give you credit for the months in which benefits were reduced or withheld due to your excess earnings. In effect, it’s as if you hadn’t filed for those months. You can learn more at www.socialsecurity.gov/planners/retire/whileworking.html.
Social Security’s mission is to secure your today and tomorrow. Helping you make the right retirement decisions is vital. You can learn more by visiting our Retirement Planner at www.socialsecurity.gov/planners/retire.
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Tags: full retirement age, retirement, retirement benefits, Social Security benefits
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Jim Borland, Acting Deputy Commissioner for Communications
Jim Borland, Acting Deputy Commissioner for Communications
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Melody H.
I just turned 64 and my full retirement is 66. I am a widow who has remarried at the age of 61. Can I draw my deceased husbands retirement and then draw mine when I retire? What is the limit of earnings?
William B.
I would like to get my Social Security Checks Retirement start Feb.2019
R.F.
Hello William, the earliest age you can apply for retirement benefits is 62. Our system is set up to take applications three months in advance. When you are ready, you can complete the online application for your Social Security retirement benefits in as little as 15 minutes. Remember that benefits are paid the month after they are due. So, for instance, if you want your benefits to begin with the month of february, you will receive your first benefit payment in March.
Also, you can create a my Social Security account to review your earnings record and get an estimate of your future benefits.
In April we celebrate “National Social Security Month“, see what you can do online at http://www.SocialSecurity.gov. Thanks!
Susan W.
Can Medicare begin before starting social security payments?
R.F.
Thank you for your question, Susan. Individuals who are 65 or older and not ready to start their monthly cash benefits yet, can use our online retirement application to sign up for Medicare ONLY and apply for their retirement benefits later. Since you must pay a premium for Medicare Part B coverage, you have the option of turning it down. However, we suggest that individuals speak to their health benefits advisor, or health plan representative to see what’s best for them, and to prevent any penalties or delayed enrollment in the future.
To learn more about the Medicare enrollment periods visit http://www.Medicare.gov, and read our publication “Apply Online for Medicare – Even If You Are Not Ready to Retire” . We hope this information helps!
Victoria M.
I will be turning 62 on 6/19/2018. I will be applying for early Social Security. If I apply this month when will I receive my first check after my birthday.
R.F.
Thank you for your question Victoria. First, you have to be 62 for the full month to collect a benefit for that month. If you celebrate your 62nd birthday on June 19, the earliest you could start benefits is for the month of July. Remember that benefits are paid the month after they are due. So, for instance, if you want your benefits to begin with the month of July, you will receive your first benefit payment in August.
Please, create a My Social Security account to review your earnings record and get an estimate of your future benefits.
Our system is set up to take applications three months in advance, when ready, you can complete your application for retirement benefits online. We hope this helps!
Victoria M.
I turn 62 on 6/19/2018. I will be applying for early social security. If I apply this month when will I receive my first check after my birthday.
R.F.
Thank you for your question Victoria. First, you have to be 62 for the full month to collect a benefit for that month. If you celebrate your 62nd birthday on June 19, the earliest you could start benefits is for the month of July. Remember that benefits are paid the month after they are due. So, for instance, if you want your benefits to begin with the month of July, you will receive your first benefit payment in August.
Please, create a My Social Security account to review your earnings record and get an estimate of your future benefits.
Our system is set up to take applications three months in advance, when ready, you can complete your application for retirement benefits online. We hope this helps!
Dale S.
My mother, who was born in 1952, will be reaching her full retirement age of 66 this August. How do I ensure she receives her full benefits as soon as possible ?
In other words, when does she have to apply in order for her to start receiving 100% of her full benefit as soon as possible ? Does she have to wait until August ?
R.F.
Hello Dale. Our system is set up to take applications three months in advance. Keep in mind that benefits are paid the month after they are due. So, for instance, if your mother wants her benefits to begin with the month of August, she will receive her first benefit payment in September. She can apply for her retirement benefits online. Please visit our Social Security Retirement Planner for more information. Thanks!
Claudio S.
I need to know my statues no me eat me hungry me very tired i need help please
Claudio S.
I have mental and physical to find my staust please help i havint had a meal for 3 day
Andrew
If I stop working at 63 but don’t start to collect SS until I am 66 will my benefit stay the same or go up or down by the time I am 66. I have worked 44 years up till 63
R.F.
Great question, Andrew! You can start your retirement benefit at any point from age 62 up until age 70, and your benefit will be higher the longer you delay starting it. However, if you decide to get benefits before your full retirement age, they will be reduced.
For retirement benefits, we use the individual’s highest 35 years of earnings to compute monthly benefit amount.
Please use one of our other benefit Calculators. Which calculator you choose depends on what you want do. In your case you may need to use our Early or Late Retirement Calculator. We hope this information helps!
Lola
If I started receiving Social Security benefits before the age of 62 ,and I reach the age of 62 do my benefits go up
R.F.
Hi Lola, if you’re receiving disability benefits under the Social Security Disability Insurance (SSDI) program, we will automatically convert your disability benefits to retirement benefits when you reach your full retirement age. Generally, the benefit amount remains the same.