A lot of people in the US think that reaching the minimum retirement age is all it takes to start getting Social Security benefits. On the other hand, becoming 62 years old is only one of several requirements needed to get this benefit.
There are several things that affect a person’s ability to get Social Security upon retirement. Sometimes, people may be shocked to find out that they do not meet all the requirements, even though they are the minimum age.
Social Security is a key way to make sure you have enough money in retirement, but not all workers can start getting these benefits as soon as they reach the minimum retirement age.
The goal of this program is to cover people who have worked in the system for a certain amount of time. The following will explain the conditions that determine if a person can get these payments, besides their age.
When deciding, besides age, other important things like work history and the number of credits earned while working are also taken into account.
Some people may not be able to get Social Security benefits even if they are the minimum age. This is because they may not have worked long enough or accumulated enough credits.
All the requirements for Social Security retirement
Not only do you have to be 62 years old to get Social Security retirement, but you also have to meet certain work requirements set by the Social Security Administration (SSA).
To be eligible, one of the most important things is to have worked for a certain amount of years and earned credits during that time.
If a worker wants to retire fully, they need to have earned at least 40 credits. These credits are given out based on how much money someone makes each year.
For example, in 2024, one credit is given out for every $1,640 in income, with a maximum of four credits per year.
So, if someone has worked for at least 10 years, they might have earned the 40 credits they need. It is important to remember, though, that you can only get 4 credits a year.
However, even if you have reached the minimum retirement age, you will not be able to get Social Security retirement if you do not have enough credits.
There are other programs that help people, but they are not connected to Social Security. Still, if we apply for retirement based on those rules, our check might not be big enough. To get the most out of your Social Security payment, you should wait to apply.
How do I get Social Security without reaching age 62?
People must be 62 years old to start getting Social Security benefits, but some people may be able to get other benefits before that age. But people must be disabled or the widow or widower of a worker who died in order to get Social Security before they turn 62.
- Disability Benefits: Individuals who are disabled before reaching age 62 may be eligible to get disability benefits. To qualify, applicants must have worked a sufficient number of years and earned the necessary credits for their situation.
- Survivors’ benefits: If a worker dies, his or her immediate family members, such as a spouse or minor children, may be eligible to get Social Security benefits before retirement age. These payments are based on the deceased’s work history and any credits he or she has accumulated.
Disability benefits are not the same as retirement benefits, and you usually have to meet certain requirements based on not being able to work in order to get them.
Benefit recipients who are disabled or whose loved ones have died can start getting monthly payments early, instead of having to wait until they turn 62.
To sum up, turning 62 is an important step, but it is not the only thing you need to do to get a Social Security benefit.
The amount of work credits earned and personal factors like being disabled or a survivor are both important in figuring out the benefits that can be gotten.