$1,343 Monthly in 2025? Social Security Confirms Eligibility for Those Turning 62

If you’re turning 62 in 2025, there’s a good chance you’re thinking about Social Security. For many Americans, it marks the start of retirement planning becoming real. According to the Social Security Administration (SSA), the average benefit for new retirees at age 62 will be around $1,343 per month in 2025.

That number can be comforting—or a wake-up call. Whether you’re planning to claim early or wait until full retirement age, it’s important to know how the system works. This guide walks you through eligibility, how your benefits are calculated, what to expect if you claim early, and ways to maximize what you get.

Overview

Eligibility

To qualify for retirement benefits at age 62, you need to meet two basic requirements:

• Be at least 62 years old (or turning 62 in 2025)
• Have at least 40 work credits, which usually equals 10 years of work

In 2025, one credit is earned for every $1,730 in income. You can earn up to four credits a year, so most people reach the 40-credit minimum with steady work over a decade.

You can track your work history and estimated benefits by creating an account at ssa.gov/myaccount.

Early Claiming

Claiming benefits at 62 means receiving a reduced monthly amount for life. For those born in 1963, the full retirement age is 67. Starting five years early triggers a reduction of about 30%.

Example:

Let’s say your benefit at full retirement age would be $1,918/month. If you claim at 62, your monthly benefit drops to about $1,343.

Even waiting one more year—to age 63—can increase your monthly payout by over $100. Delaying your claim until age 70 could boost it by up to 76%.

Benefit Calculation

Your Social Security benefit is based on:

• Your 35 highest-earning years (adjusted for inflation)
• Your age when you start claiming
• Cost-of-living adjustments (COLA)

If you don’t have 35 full working years, the SSA averages in zeros for missing years, which lowers your benefit. That’s why continuing to work—or working later in life—can boost your benefit significantly.

In 2025, beneficiaries received a 3.2% COLA increase, helping payments keep pace with inflation.

Should You Claim at 62?

It depends on your personal circumstances. Here are the pros and cons:

Pros:

• Income starts right away
• Helpful if you’re unemployed or can’t work
• Good option for those with shorter life expectancy

Cons:

• Monthly payments are permanently lower
• Working while receiving benefits could reduce your check
• Lower survivor benefits for your spouse

If you’re unsure, talk to a financial advisor who knows retirement and Social Security planning.

How to Apply

You can apply for benefits up to four months before you want them to begin.

Ways to Apply:

• Online: ssa.gov/benefits/retirement
• Phone: Call 1-800-772-1213 (TTY 1-800-325-0778)
• In Person: Visit your nearest Social Security office (appointment recommended)

Documents You’ll Need:

• Proof of age (birth certificate)
• Social Security number
• Income and work history
• Bank account details for direct deposit

You don’t need to be retired to apply. As long as you’re eligible, you can start your benefits while still working—but your income could affect your payout.

Tips to Maximize Your Benefits

Here’s how to get the most out of Social Security in retirement:

1. Delay Benefits If You Can

Each year you delay past 62 adds more to your monthly check—up to age 70. That’s an 8% increase per year past your full retirement age.

2. Increase Your Income

Boosting your earnings now can replace low-earning years in your benefit calculation.

3. Use Spousal or Survivor Benefits

You may be eligible through your spouse’s work record—even if you don’t qualify on your own.

4. Social Security With Other Accounts

Coordinate your withdrawals from IRAs, 401(k)s, or pensions to manage your total income and taxes.

5. Plan for Taxes

Up to 85% of your Social Security could be taxed based on your combined income. A tax advisor can help you reduce this.

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