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However, if you retire at age 62 in 2022, your maximum benefit would be $2,364 according to the SSA. If you retire at age 70 in 2022, your maximum benefit would be $4,194.
Social Security recipients could get an additional $2,400 a year in benefits if a new bill recently introduced to Congress wins approval -- something seniors would no doubt welcome as surging...
A separate analysis from the Center on Budget and Policy Priorities found that the poverty rate for adults aged 65 and above would be nearly four times higher if Social Security didn't exist -- 10 ...
That discrepancy is magnified when comparing the maximum possible Social Security benefit at ages 62 and 70. ... 2022. $147,000. ... a benefit that's over 80% higher per month than their 62-year ...
Some federal, state, local and education government employees pay no Social Security tax but have their own retirement and disability systems that nearly always pay better retirement and disability benefits than the SSA. These plans typically require vesting (working 5–10 years for the same employer before becoming eligible for retirement ...
According to the most recent data released by the Social Security Administration in December 2023, the average benefit among 62-year-old retired workers is just $1,298 per month.
A study published by the National Bureau of Economic Research in November 2022 found that 90% of workers ages 45 to 62 would maximize their Social Security by claiming benefits at age 70 ...
For 2022, the maximum possible Social Security payout for a recipient filing at full retirement age is $3,345, up from $3,148 in 2021. Read: 14 Key Signs You Will Run Out of Money in Retirement ...