Social Security is one of the most respected and beloved programs within the United States, and millions of beneficiaries enjoy the monthly payments that this program provides them. However, although the name Social Security may sound like a benefits program as broad as the imagination can reach, in order to receive any benefit, the Social Security Administration requires a number of requirements.
The first of the requirements is to have had a job covered by Social Security for a minimum time; in most cases, about 35 years of Social Security tax contribution payments are enough to apply for benefits such as retirement or Social Security Disability Insurance (SSDI).
Also, to apply for retirement or SSDI, you must have reached the minimum age for the benefit: usually, 62 is the age at which you can start receiving payments, but experts recommend waiting until full retirement age (FRA), which for most older adults is between 65 and 67, depending on the year of birth.
Who Can Apply for Social Security Benefits in 2024?
If you reached the minimum retirement age and worked for 35 years, you also have to have paid Social Security contributions for at least those 35 years. By fulfilling these three requirements, you can access ordinary retirement (with 40 Social Security credits) or early retirement (with 30 credits).
On the other hand, you may be eligible to receive SSDI, which is disability benefits. These benefits are intended for those people who have a disability that prevents them from doing a job or a lucrative activity. Such disability must be certified and must last at least one year or end at the death of the patient for the Social Security Administration to approve the payments.
Documents and requirements
The specific requirements for each beneficiary vary, but the most important thing is to check with the SSA or a specialized retirement advisor to get the accurate information. Some of the requirements and documents that you may be asked for (but not limited to) are the following:
- Identity document: Social Security number or birth certificate.
- Birth certificate: To prove your age.
- Work history: That shows your contributions to Social Security.
- Medical certificates: In case of applying for disability retirement, you will be asked for medical certificates that prove your condition.
The Maximum Retirement Is $4,873: Who Can Claim It?
Indeed, the maximum retirement in the United States from Social Security during the year 2024 is $4,873 per month. However, not all people who retire can access this juicy benefit. You must meet the following requirements:
- Delaying retirement until the age of 70 and not at 67, which is the FRA of most seniors.
- Have accumulated a total of 40 work credits throughout your working career.
- If you continue to work after reaching full retirement age, your Social Security benefits could be temporarily reduced, and you wouldn’t qualify for the $4,873.
Other Social Security Benefits of up to $2,710 and $3,822
If you met the same requirements as those who receive $4,873 per month from Social Security, but you’re considering retiring at age 62 instead of waiting until age 70, your monthly checks are going to be substantially reduced. For example, if you retire at age 62 with the same income and Social Security tax contributions as someone who retires at age 70, you will be able to claim $2,710.
In comparison, a person in the same conditions, who chooses to retire at the age of 67 instead of 62 or 70, can receive a lifetime monthly payment of $3,822. It’s a good intermediate point if you don’t want to see your payments reduced, but you don’t want to wait another three years to start relaxing a little and stop working.
