For many Americans, the prospect of claiming Social Security at age 62 is an eagerly awaited milestone. However, not all individuals who reach this age will automatically qualify for benefits in 2025. While turning 62 is the minimum age to start receiving Social Security retirement benefits, meeting that age alone doesn’t guarantee eligibility. There are other critical requirements that must be met, particularly when it comes to your work history and the type of employment you’ve had.
In this article, we’ll take a closer look at why some 62-year-olds might miss out on Social Security benefits in 2025 and the factors that determine eligibility for these essential retirement benefits.
Basic Eligibility Requirements for Social Security at Age 62
To qualify for Social Security retirement benefits at age 62, you must meet two key criteria:
- Age Requirement: You must be at least 62 years old.
- Work Credits: You must have earned at least 40 work credits, which typically takes 10 years of work.
Work credits are earned through your income that is subject to Social Security tax. You can earn a maximum of four credits per year, meaning you would need to have worked for a minimum of 10 years in jobs where Social Security taxes were paid.
In 2024, for example, you need to earn $1,730 in covered wages to receive one work credit. Therefore, to earn the full four credits in one year, your income would need to total at least $6,920. These thresholds may change annually based on cost-of-living adjustments set by the Social Security Administration (SSA).
Why Some Jobs Don’t Qualify for Social Security Work Credits
While many jobs in the United States require Social Security taxes to be withheld from wages, certain types of employment are exempt. These include:
- Government Jobs: Many federal, state, and local government workers do not pay into Social Security. Instead, these positions are typically covered by separate pension plans.
- Religious Organizations: Certain members of religious groups may opt out of the Social Security system if their organization provides an alternative retirement plan.
- Railroad Employees: Workers in the railroad industry are not covered by Social Security; they are part of the Railroad Retirement System, which offers a different set of benefits.
If your career has been spent in one of these exempt jobs, it’s possible that you won’t have enough work credits to qualify for Social Security benefits, even if you’ve worked for several decades.
How to Check Your Eligibility
If you’re unsure whether you have earned enough work credits to qualify for benefits, you can easily check by creating an account on the SSA’s website, my Social Security. Once you’ve registered, you can access your Social Security Statement, which will show your total work credits, estimated benefits, and any potential benefit reductions if you file before your full retirement age (FRA). The statement also includes information about benefits your family members may be eligible for based on your work history.
Impact of Early Filing on Social Security Benefits
Even if you qualify for Social Security, filing at age 62 comes with a financial trade-off. While filing early allows you to start receiving benefits sooner, it also results in a permanent reduction in the amount you’ll receive each month.
Typically, benefits claimed at age 62 are reduced by about 30% compared to the amount you would get if you waited until your full retirement age, which varies depending on your birth year (currently between ages 66 and 67). Here’s a breakdown of the reduction in benefits based on your filing age:
| Filing Age | Reduction in Benefits |
|---|---|
| 62 | 30% |
| 63 | 25% |
| 64 | 20% |
| 65 | 13.3% |
| 66 | 6.7% |
| Full Retirement Age (67) | 0% |
For those who need income immediately, claiming at 62 might make sense. However, delaying benefits until you reach full retirement age (or beyond) can result in higher monthly payments.
What If You Don’t Have Enough Work Credits?
If you don’t meet the required 40 work credits to qualify for Social Security at age 62, there are still a few alternatives to consider:
- Supplemental Security Income (SSI): This is a federal program designed to provide benefits to low-income individuals who are 65 or older, or those who have disabilities, regardless of their work history.
- Spousal Benefits: If you’re married to someone who qualifies for Social Security, you may be eligible for spousal benefits based on their work history.
- Delaying Retirement: If you continue working, you can earn additional work credits and become eligible for Social Security benefits later. Delaying retirement benefits until at least full retirement age will also result in higher monthly payouts.
Maximizing Your Social Security Benefits
If you’re eligible for Social Security but are concerned about the impact of filing early on your benefits, there are strategies you can use to maximize your retirement income:
- Work Longer: Earning more credits by continuing to work can increase both your Social Security benefits and your overall retirement savings.
- Delay Your Claim: If possible, delaying your claim past full retirement age (up to age 70) will result in an 8% increase in your monthly benefit for each year you wait. This can significantly boost your retirement income over time.
Social Security is an important financial resource for many retirees, but understanding the eligibility criteria and how your filing age affects your benefits is crucial to ensuring you get the most out of this program.
Conclusion
While age 62 is the earliest you can begin claiming Social Security benefits, not everyone will automatically qualify at that age. To ensure you’re eligible, it’s important to check your work history and ensure you’ve earned the required 40 work credits. If you fall short, there are still other options available, including SSI, spousal benefits, or simply continuing to work and delaying your claim to increase your benefits. Understanding your eligibility and strategically planning your Social Security filing can help you maximize your retirement income.
