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Social Security Retirement Benefits in 2026
Clear explanation of eligibility, Full Retirement Age, the best time to claim (62 vs FRA vs 70), the 2.8% COLA, earnings test rules, and real examples.
Who Can Get Retirement Benefits?
You generally qualify if you have earned at least 40 work credits (about 10 years of work) and are age 62 or older.
- U.S. citizens and qualified non-citizens with a valid Social Security number
- In 2026 you earn 1 credit for every $1,890 in covered earnings (maximum 4 credits per year)
Your Full Retirement Age (FRA)
FRA is the age at which you receive 100% of your benefit. Claiming earlier permanently reduces it. Delaying past FRA increases it.
| Birth Year | Full Retirement Age |
|---|---|
| 1943 – 1954 | 66 |
| 1955 | 66 and 2 months |
| 1956 | 66 and 4 months |
| 1957 | 66 and 6 months |
| 1958 | 66 and 8 months |
| 1959 | 66 and 10 months |
| 1960 or later | 67 |
When Should You Claim? 62 vs FRA vs 70
Your claiming age has a large effect on your monthly payment for the rest of your life.
| Claiming Age | Effect on Benefit | Example (FRA benefit $2,071) |
|---|---|---|
| Age 62 | About 30% reduction | ≈ $1,450 / month |
| Full Retirement Age | 100% of benefit | $2,071 / month |
| Age 70 | +24% from delayed credits | ≈ $2,568 / month |
Delayed retirement credits are worth 8% per year between FRA and age 70.
Need More Help with Retirement?
Official tools, forms, communities, and tax resources:
2026 Cost-of-Living Adjustment (COLA)
The COLA for 2026 is 2.8%. It was applied to benefits beginning in January 2026.
| Year | COLA |
|---|---|
| 2023 | 8.7% |
| 2024 | 3.2% |
| 2025 | 2.5% |
| 2026 | 2.8% |
Working While Receiving Benefits (Earnings Test)
If you claim before Full Retirement Age and continue working, SSA may temporarily withhold some benefits.
- Under FRA for the full year: $24,480 limit → $1 withheld for every $2 over the limit
- Year you reach FRA: $65,160 limit → $1 withheld for every $3 over the limit
- After FRA: No earnings limit
Withheld benefits are not lost forever — SSA recalculates your benefit at Full Retirement Age.
Real-World Claiming Examples
Claims at 62
Needs income now. Accepts a permanent reduction of about 30% to start benefits early.
Waits until FRA
Receives 100% of the calculated benefit. A balanced choice for many people.
Delays to age 70
Earns the maximum delayed credits (+24%). Best for those with longer life expectancy and other income sources.
Still Working Under FRA
Must watch the $24,480 earnings limit or face temporary benefit reductions.
Divorced Spouse
May claim on an ex-spouse’s record if the marriage lasted 10+ years and other rules are met.
Maximum Earner at FRA
In 2026 the highest possible benefit at Full Retirement Age is $4,152 per month.
Frequently Asked Questions
When should I claim Social Security?
It depends on your health, other income, and life expectancy. Delaying to 70 gives the highest monthly benefit if you can afford to wait.
Can I suspend benefits after I start them?
Yes, but only after you reach Full Retirement Age. You can voluntarily suspend and restart later for a higher amount.
Will working reduce my benefits?
Only if you are under Full Retirement Age and earn more than the annual limit. After FRA there is no reduction for working.
How are benefits taxed?
Up to 85% of your benefits may be taxable depending on your combined income. See our Tax Guide for details and a calculator.