You're eligible to collect Social Security at age 62, but that's not always the best time to start taking it. You'll be penalized for taking Social Security before yourfull retirement age(66 or 67) and you can earn an even larger benefit if you wait until age 70...
A fourth way to qualify for a Social Security benefit is to marry into it, so to speak. For instance, should your spouse pass away, you could potentially qualify for a survivor benefit, assuming that survivor benefit would pay out more than what you'd earn from your own retirement benefit...
In addition to retirees, certain family members of retirees may be eligible for Social Security retirement benefits. This may include spouses, ex-spouses, children, and dependent parents. Note that eligibility requirements and benefit amounts may vary depending on individual circumstances. Contact the ...
It’s been in the news lately, but what exactly does the Social Security Administration do? Maryalene LaPonsieApril 15, 2025 Raising Retirement Age: Help or Harm? A later benefit age might help the system, but it won’t help every future retiree equally. ...
Below are the ways you can apply for the benefit, and find out if you qualify. Social Security survivors benefits: How to get started When someone dies, the surviving family members have a range of financial responsibilities to attend to, from canceling their credit cards to filing their taxes...
Good to know: If you receive a government or private pension for a job that didn’t contribute to Social Security, the SSA may reduce your benefits. How much the SSA reduces them depends on how much you’ll receive from your pension. Other factors can affect your monthly benefit, includi...
You can receive Social Security benefits if you’re still working or even if you plan to return to work after you start collecting them. But the amount you receive in benefits will be reduced based on your earned income. What is the maximum Social Security benefit I can receive? The most...
The increase amounts to a raise of about $140 a month for the average Social Security benefit. The cost of living adjustment, or COLA, comes after the 66 million recipients received a 5.9% increase at the beginning of the year. The adjustments are based on the current rate of inflati...
If you're a widow or a widower, you are eligible to collect your late spouse's Social Security payments as a survivor's benefit. Again, if you wait until FRA to take payments, you can receive 100% of that benefit—less if you collect before your FRA. (The rules for survivor's bene...
How to Apply for Social Security. A Lifeline for Many Seniors Nearly 68 million Americans receive a monthlySocial Security benefit. These benefits add up to around $1.5 trillion in benefits paid annually. For most Americans over age 65, Social Security is a majorsource of in...