The Social Security Administration allows American workers to start receiving retirement benefits at the age of 62. However, it is not possible to do it in their record if they have not earned at least 40 work credits.
40 work credits are about ten years of work. It will depend on the wage you have and the time it will take you to achieve it. To know the exact amount of your future payment you must wait until Social Security confirms it, but you can see average payments.
Social Security checks at 62
The Social Security check at 62 ranges between $1,300 and $1,400. This is not possible to know more accurately because the Agency has not unveiled figures per age for some time.
Still, it gives you an idea of what a retirement benefit payment could be at this age. Bear in mind that, as of October 2024, the average retirement check for all retired workers is about $1,924.
As you can see, there is a considerable difference. This is because 62-year-olds get a reduction for filing early. Actually, their benefits are reduced by about 30%. So, you should file at Full Retirement Age to get 100% of your benefits without reductions. Or delay filing until you are 70 to get 24% extra.
Largest Social Security check at 62
As of 2024, the largest benefit payment in retirement is $2,710. This will only be until December 31, 2024. After that date, the largest retirement benefit payment will be higher thanks to the new 2025 COLA increase.
The boost for this maximum amount will be even higher than COLA. In fact, those who file at 62 in 2025 and meet all the requirements can receive up to $3,018. A boost of 308 dollars. Social Security requirements to get $2,710 in 2024:
- filing for retirement at 62
- having worked for a minimum of 35 years
- having had jobs covered by SSA
- having earned the taxable maximum for 35 years at least