While many Americans look forward to claiming Social Security at age 62, not all 62-year-olds will qualify for these benefits in 2025. The Social Security Administration (SSA) has specific eligibility requirements, and meeting the minimum age alone is not enough.
Some individuals may find that their work history or the type of job they held impacts their eligibility. Let’s explore why some individuals may miss out on Social Security and the requirements needed to claim these retirement benefits.
Eligibility
Basic Requirements for Social Security at Age 62
The minimum age to claim Social Security retirement benefits is 62. However, reaching this age doesn’t automatically qualify everyone for benefits. To be eligible, the SSA requires at least 40 work credits.
Since individuals can only earn up to four credits per year, they must have worked for at least ten years in positions where they paid Social Security taxes. For those who have not accumulated these credits, receiving retirement benefits at age 62 may not be an option.
For each work credit, an individual must have earned a certain minimum amount in covered wages (income on which Social Security taxes are paid).
In 2024, for example, one work credit requires $1,730 in earnings, meaning a person needs at least $6,920 in covered earnings in a year to earn all four credits. The threshold for earning these credits may change annually, reflecting cost-of-living adjustments set by the SSA.
Why Some Jobs Don’t Qualify for Credits
While most jobs in the U.S. require Social Security tax withholding, certain types of employment are exempt. These include:
- Some Government Jobs: Federal government positions and certain state and local government jobs may not pay into Social Security. Instead, they offer separate pension plans.
- Specific Religious Organizations: Members of certain religious groups who choose to forgo Social Security for their group’s own retirement plans are also exempt.
- Railroad Workers: Instead of Social Security, railroad employees are covered by a separate pension plan, the Railroad Retirement System.
Individuals who spent their careers in roles exempt from Social Security taxation might not meet the work credit requirements, even if they have worked for decades.
Checking Eligibility
Accessing Work Credit Records Through My Social Security
If you’re unsure of your eligibility, the SSA provides an easy way to check through its online service, my Social Security.
After creating an account, you can download your Social Security Statement, which will show your total work credits, current benefit estimates, and whether your family members could receive benefits based on your record. This statement also outlines benefit reductions if you file before full retirement age (FRA).
How Early Filing Affects Benefits
If you qualify for Social Security benefits and file at 62, you should be aware of the financial impact. Claiming at this early age results in a permanent reduction in monthly benefits.
Typically, benefits claimed at 62 are reduced by about 30% compared to the amount you would receive if you waited until full retirement age, which is currently between 66 and 67, depending on your birth year.
| Filing Age | Reduction in Benefits |
|---|---|
| 62 | 30% |
| 63 | 25% |
| 64 | 20% |
| 65 | 13.3% |
| 66 | 6.7% |
| Full Retirement Age (67) | 0% |
Filing early may suit those who need income right away, but those who can wait may benefit from a larger monthly amount.
Options for Those Without Sufficient Credits
If you don’t qualify for Social Security retirement benefits at age 62, other options may be available:
- Supplemental Security Income (SSI): This federal program provides benefits to low-income individuals aged 65 or older or those with disabilities, regardless of work history.
- Spousal Benefits: If you’re married to someone who qualifies for Social Security, you may be able to receive benefits based on their work record.
- Delayed Retirement: If you’re able to continue working, you can build more work credits, potentially becoming eligible later. Delaying until at least full retirement age also increases the benefit amount.
Maximizing Your Retirement Income
If you qualify for Social Security but are concerned about reduced benefits from filing early, other strategies can help maximize retirement income.
You could consider working a few extra years to earn more credits, increasing both your Social Security and overall retirement savings. Each year you delay filing past full retirement age (up to age 70) increases your monthly benefit by about 8%, helping secure more income over the long term.
Social Security is an essential source of income for many retirees, but understanding eligibility and timing is key to making the most of this benefit.
