Posted by The Social Security Administration (SSA) allows individuals to begin receiving retirement benefits at the age of 62. However, taking early retirement results in a reduced monthly payment—by as much as 30%.
Before filing, it’s essential to evaluate whether you can afford to retire early or should wait to avoid the reduction in benefits.
Key Factors Affecting Social Security Payments
Since workers can start receiving Social Security benefits at 62, many individuals aged 64 to 65 are already receiving their payments.
It’s important to remember that Social Security payments are customized for each individual, taking into account various factors.
These include the age at which benefits are claimed, the amount of payroll tax paid, the earnings accumulated during the individual’s career, and the number of years they have worked.
Average Social Security Payments for 64 to 65-Year-Olds
As of December 2024, individuals aged 64 and 65 typically receive the following monthly Social Security benefits:
- For 64-year-olds: The average monthly benefit is $1,425.
- For 65-year-olds: The average monthly benefit increases to $1,611.
The difference between filing early and delaying is evident here. If you file for Social Security at 62, the maximum payment you could receive is $2,831, but delaying until age 70 can increase that amount to $5,108.
Read More: Retirees Won’t Receive Social Security Checks on April 9th
Social Security Payment Schedule for April 2025
For those aged 64 to 65, there are four paydays in April 2025. However, not everyone in this age group qualifies for a payment on each of these days. To determine if you are eligible, here are the criteria you must meet:
Eligibility Criteria for April 9, 2025 Payment
To receive a Social Security payment on April 9, 2025, you must meet the following conditions:
- You cannot be receiving Supplemental Security Income (SSI).
- You must have started collecting Social Security benefits after April 30, 1997.
- Your birthdate must fall within the dates established by the SSA.
If these conditions apply, and you were born between the 1st and 10th of the month, your payment will be around $1,425 (for 64-year-olds) or $1,611 (for 65-year-olds).
Additional Payment Dates
For those who don’t meet the criteria for the April 9 payment, there are two more opportunities to receive your monthly Social Security check in April 2025:
- April 16, 2025: For those born between the 11th and 20th of the month.
- April 23, 2025: For those born between the 21st and 31st.
Full Retirement Age and Social Security Benefits
If you are aged 64 to 65 and have yet to file for Social Security, be aware that you’ll receive 100% of your benefits only when you file at your Full Retirement Age (FRA).
If you qualify for the payments on April 9, 16, or 23, the amount you receive may differ based on the date you were born and your personal eligibility.
Additional Support Options
If your Social Security benefits are lower than expected, don’t forget that you can apply for Supplemental Security Income (SSI) or the Supplemental Nutrition Assistance Program (SNAP) for additional financial assistance.
Social Security Payments for 64-65 Year Olds in April 2025
| Age | Average Monthly Payment | Payment Date | Eligibility Criteria |
|---|---|---|---|
| 64 | $1,425 | April 9 | Born between 1st and 10th |
| 65 | $1,611 | April 9 | Born between 1st and 10th |
| 64 | $1,425 | April 16 | Born between 11th and 20th |
| 65 | $1,611 | April 16 | Born between 11th and 20th |
| 64 | $1,425 | April 23 | Born between 21st and 31st |
| 65 | $1,611 | April 23 | Born between 21st and 31st |
Understanding your Social Security eligibility and payment schedule is crucial for making informed decisions about your retirement. Whether you are aged 64 or 65, you have multiple options for when to start receiving benefits, and it’s important to evaluate your financial situation before filing.
Remember, waiting until Full Retirement Age will allow you to receive the maximum benefits, but if you choose to file earlier, you may receive a reduced monthly payment.
FAQs
When can I start collecting Social Security benefits?
You can start collecting Social Security benefits at age 62, but your monthly payment will be reduced if you start early.
How does my age affect my Social Security payment?
The later you start collecting Social Security benefits, the higher your monthly payments will be. The maximum payment increases significantly if you wait until age 70.
What is Full Retirement Age (FRA)?
Full Retirement Age (FRA) is the age at which you can receive 100% of your benefits. It varies depending on your birth year but is typically between 66 and 67 years old.
Can I receive my Social Security payment earlier than scheduled?
Payments are scheduled based on your birthdate. However, if you miss a payment date, there are typically additional payment dates within the same month.