Retirees aged 70 and older will soon see payments of up to $5,108 on January 8, 2025. This payment is for seniors on Social Security who started receiving benefits after May 1997, are not on SSI, and whose birthdays fall between the 1st and 10th of the month.
To receive the highest payment possible from Social Security in 2025, retirees must have filed for benefits at age 70. While this might require working a few extra years, the benefits are well worth it.
How to Get the Maximum Social Security Payment of $5,108 in January 2025
To qualify for the highest possible payment, seniors need to meet specific requirements. Here’s what you need to do:
- Apply for Social Security at Age 70
Filing for Social Security at age 70 ensures that you receive the maximum benefit, as retirees who wait until 70 get an additional 24% in their monthly payments. While it means working longer, the extra benefits are substantial. - Pay Enough Payroll Taxes
To qualify for the highest payment, you must have paid sufficient payroll taxes over the years. To ensure you get the largest payment, you must earn the taxable maximum for at least 35 years. - Work for 35 Years in Jobs Covered by SSA
The Social Security Administration (SSA) only considers income from jobs that are covered under the SSA. So, if you haven’t worked in a covered job for 35 years, you will not be eligible for the largest benefit. - Earn the Contribution and Benefit Base
The taxable maximum for Social Security in 2024 was $168,600, but for 2025, it will rise to $176,100. This means that you need to earn up to this amount for the necessary number of years to qualify for the maximum benefit.
What Happens if You File for Social Security Before Age 70?
If you decide to file for Social Security benefits before reaching 70, the maximum benefit you can receive will be reduced. For example, if you meet all the other requirements but file at age 62, your payment will be lower — the maximum possible payment would be $2,831.
Full Retirement Age vs. Filing Early
Filing for Social Security at your Full Retirement Age (FRA) is another option. By doing this, you can receive 100% of your Social Security benefits, but the amount will still be lower than what you’d get if you filed at age 70.
For seniors who file at FRA, the maximum payment will be $4,018 in 2025. While this is a significant amount, it is still around $1,090 lower than the $5,108 that can be obtained by filing at 70.
Key Checklist to Maximize Your Social Security Payment:
- File for Social Security at age 70
- Worked for 35 years in SSA-covered jobs
- Earn the contribution and benefit base for 35 years
What Happens After January 8, 2025?
After January 8, 2025, additional payment dates will become available. Seniors who have not yet filed for Social Security can still claim their benefits, but they should be aware that filing at the right time can make a big difference in the amount they receive.
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Archer Bannister is a journalist with 4 years of experience covering hard-hitting stories. Currently working with Mikeandjonpodcast, Archer specializes in delivering timely and in-depth updates on a variety of topics, including crime news, politics, and national issues affecting the USA. His expertise and dedication to delivering accurate, impactful news make him a trusted voice for audiences seeking to stay informed on critical topics.