What Age Do You Need To Be To Collect 100 % Social Security?
Lately the hot question has been what age do you need to be to collect 100% social security benefits? But in order to receive the maximum benefit one must first qualify for the benefits. To qualify for social Security retirement benefits you must meet certain requirements and one of the requirements is that if you were born after 1929 you will need to have accumulated 40 credits (10 years working.) If you happen to stop working before this number of credits has been accumulated then you will not be eligible Social security retirement benefits. If you should return to work at some later date then you will continue to accumulate credits that can be used to determine eligibility towards full retirement. The age at which an individual can receive the maximum benefit is due largely upon the year of their birth.
How Much Will I Receive From Social Security Retirement?
The amount an individual will receive from social security retirement is based on how much they earned during their working careers. The higher the wages the higher the retirement benefit. The lower the wages earned the lower the benefit. If a person decides to retire early at the age of 62 their benefit payment will be reduced by 25%.
What Age Do You Need To Be To Collect 100% Social Security?
The determining factor of in qualifying the age an individual can receive maximum social security benefits is the year in which the individual was born. The following information will show what age you need to be to collect 100% social security:
What Age Do You Need To Be To Collect 100% Social Security? It Depends.Source: www.todaysseniors.com