Social Security Retirement Benefits
Last updated October 15, 2026 · By O.B.
Social Security retirement benefits provide monthly income to workers who have paid into the system through payroll taxes over their careers. The program is administered by the Social Security Administration (SSA). How much you receive depends on your lifetime earnings and the age at which you begin collecting.
Who is eligible?
You generally need 40 work credits — about 10 years of work — to qualify for retirement benefits. You can earn up to four credits per year; in 2026 you earn one credit for every $1,890 in covered earnings, so $7,560 earns all four. In 2027, each credit takes $1,970 in covered earnings. Your benefit amount is based on up to 35 of your highest-earning years, with past earnings indexed to changes in average wages. Even if you have not worked enough yourself, you may qualify for spousal or survivor benefits based on a spouse's record.
When can you start collecting?
You can claim retirement benefits as early as age 62, but your monthly amount is reduced, and the reduction is usually permanent. If your full retirement age is 67, starting at 62 means a benefit about 30% lower. Your full retirement age is 67 for people born in 1960 or later. If you wait beyond full retirement age, your benefit grows through delayed retirement credits (8% a year if you were born in 1943 or later) until age 70, after which there is no additional increase.
How much can you receive?
Your benefit depends on your earnings history. In 2026, the maximum monthly benefit for a worker retiring at full retirement age is $4,152; for a worker retiring at full retirement age in 2027, SSA puts it at $4,188. Someone who delays until age 70 can receive a larger amount. Benefits are adjusted annually for inflation through the Cost-of-Living Adjustment (COLA). The COLA in your checks now is 2.8% for 2026. On October 14, 2026, SSA announced a 3.6% COLA for 2027. It starts with December 2026 benefits, which are payable in January 2027. Your COLA notice shows your own new amount. SSA says it can be viewed online in a my Social Security account starting in late November, and people not enrolled in paperless notices get it by mail in December (SSA press release). See our 2027 COLA guide.
How to apply
You can apply up to four months before you want benefits to begin, online, by phone, or through a local Social Security office. Create a my Social Security account to review your earnings record and estimate your benefits at different ages. Apply at the official source: SSA.gov/retirement.
Frequently Asked Questions
How many work credits do I need for Social Security retirement?
You generally need 40 credits, which is about 10 years of work. You can earn up to four credits each year based on your earnings. In 2026, you earn one credit for every $1,890 in covered earnings, so $7,560 earns all four. In 2027, each credit takes $1,970 in covered earnings.
What is the full retirement age?
For people born in 1960 or later, full retirement age is 67. Claiming earlier (as early as 62) reduces your monthly benefit, usually permanently, while waiting up to age 70 increases it.
What is the maximum Social Security benefit in 2026?
In 2026, the maximum monthly benefit for someone retiring at full retirement age is $4,152. For a worker retiring at full retirement age in 2027, SSA puts the maximum at $4,188. Delaying until age 70 can produce an even higher monthly amount.
Can I work while collecting Social Security?
Yes, but if you are below full retirement age and earn above an annual limit, some benefits may be temporarily withheld. In 2026 the limit is $24,480, and SSA withholds $1 for every $2 you earn above it. In the year you reach full retirement age the limit is $65,160, with $1 withheld for every $3 above it, and only earnings before the month you reach that age count. For 2027, SSA has set the limits at $25,560 ($1 withheld for every $2 above it) and $67,920 in the year you reach full retirement age ($1 for every $3 above it). Starting the month you reach full retirement age, there is no earnings limit, and SSA recalculates your benefit to give you credit for the months benefits were withheld.
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