In 2024, the maximum monthly benefit is $3,822 for someone who files at full retirement age (FRA), which is age 66. The maximum benefit for those who qualify and delay claiming until age 70 is $4,873.2 The Social Security Administration's cost of living benefit increase for 2025 is...
would withhold a portion of your monthly benefit. As always, once you’ve hit full retirement age (even if you began taking benefits early), there is no cap on earnings and any benefits that the Social Security Administration withheld in prior years will be added to your monthly benefit ...
including those that determine benefit amount and claiming age, are set by federal law. However, some states do tax Social Security benefits, so where you liveaffect tax levels on your retirement income. But again, the age at which you claim benefits won't affect your tax rate -- your inc...
How does full retirement age affect your Social Security benefits? If you claim your benefits at full retirement age, you will receive your standard Social Security benefit amount. If you claim prior to FRA, you will be subject to early filing penalties that reduce your benefit by the ...