If you take Social Security at 62, your monthly retirement check is cut by 30% for the rest of your life, as long as your full retirement age is 67. Everyone born in 1960 or later has a full retirement age of 67, and as of November 2026 that includes every person who is 62 to 66 today. So a $2,000 full benefit becomes $1,400 a month at 62. The cut is permanent. Cost-of-living raises, like the 3.6% raise announced for 2027, are applied to the smaller amount. If you keep working before full retirement age, Social Security also holds back $1 for every $2 you earn above $25,560 in 2027 ($24,480 in 2026).
The figures come from the Social Security Administration (SSA): its early retirement page, its earnings test page, and its 2027 cost-of-living fact sheet, all checked on November 2, 2026.
The Chart: Your Check at Each Age From 62 to 70
This table assumes your full retirement age is 67 (born 1960 or later) and that your full benefit, called your primary insurance amount, is $2,000 a month. Swap in your own number from your my Social Security account: multiply it by the percentage in the second column.
| Age you start | Share of your full benefit | Monthly check if full benefit is $2,000 | Cut or increase |
|---|
| 62 | 70.0% | $1,400 | 30% less |
| 63 | 75.0% | $1,500 | 25% less |
| 64 | 80.0% | $1,600 | 20% less |
| 65 | 86.7% | $1,733 | 13.3% less |
| 66 | 93.3% | $1,867 | 6.7% less |
| 67 | 100% | $2,000 | Full benefit |
| 70 | 124% | $2,480 | 24% more |
How SSA figures the cut
SSA reduces your benefit for every month you start before full retirement age:
- 5/9 of 1% for each of the first 36 months early (about 6.67% a year)
- 5/12 of 1% for each month beyond 36 (5% a year)
At 62 with a full retirement age of 67, you are 60 months early. That is 36 months times 5/9 of 1% (20%), plus 24 months times 5/12 of 1% (10%), for a total cut of 30%. SSA calls 30% the maximum reduction.
Waiting past full retirement age works the other way. You earn delayed retirement credits of 8% a year until 70, and then the credits stop. There is no reason to wait past 70.
For the full chart of full retirement ages by birth year, see our Social Security full retirement age chart. To weigh whether the smaller check for more years beats the bigger check for fewer years, see the Social Security break-even calculator, which works through the 62 vs 67 vs 70 math.
Reduction at 62 by Birth Year
SSA's official table shows how the cut at 62 changed as full retirement age moved from 66 to 67. Anyone born in 1959 or earlier is already past full retirement age, so for people deciding now, only the last row applies.
| Birth year | Full retirement age | Months early at 62 | $1,000 benefit at 62 | Retirement cut at 62 | Spouse benefit cut at 62 |
|---|
| 1943 to 1954 | 66 | 48 | $750 | 25.00% | 30.00% |
| 1955 | 66 and 2 months | 50 | $741 | 25.83% | 30.83% |
| 1956 | 66 and 4 months | 52 | $733 | 26.67% | 31.67% |
| 1957 | 66 and 6 months | 54 | $725 | 27.50% | 32.50% |
| 1958 | 66 and 8 months | 56 | $716 | 28.33% | 33.33% |
| 1959 | 66 and 10 months | 58 | $708 | 29.17% | 34.17% |
| 1960 and later | 67 | 60 | $700 | 30.00% | 35.00% |
Two timing rules trip people up:
- If you were born on January 1, use the previous year's row.
- You must be 62 for the entire month to get a benefit for that month. SSA treats you as reaching an age the day before your birthday, so if you were born on the 1st or 2nd of a month, you can start in your birthday month. Everyone else starts the month after they turn 62.
How Much People Actually Get at 62
Your amount comes from your own 35 highest years of earnings, so there is no single "62 amount." A few reference points from SSA for 2027:
| Figure (SSA, 2027) | Amount |
|---|
| Average retired worker benefit, January 2027 (after 3.6% COLA) | About $2,170 a month |
| Highest possible benefit starting at 62 in January 2027 | $3,094 a month |
| Highest possible benefit at full retirement age, 2027 | $4,188 a month |
| Highest possible benefit at 70, January 2027 | $5,358 a month |
The $3,094 maximum only applies to someone who earned at or above the taxable maximum every year since age 22. The average covers retirees of every claiming age and is not your benefit. Our maximum Social Security benefit 2027 guide has the full breakdown.
To qualify at all, you need 40 work credits, which is usually 10 years of work. In 2027 you earn one credit for each $1,970 of earnings ($1,890 in 2026), up to four a year.
Working While You Collect at 62: The 2027 Earnings Test
If you claim at 62 and keep working, the retirement earnings test can hold back part of your checks until you reach full retirement age.
| Your situation | 2026 limit | 2027 limit | What SSA holds back |
|---|
| Under full retirement age all year | $24,480 a year ($2,040 a month) | $25,560 a year ($2,130 a month) | $1 for every $2 above the limit |
| The year you reach full retirement age (months before your birthday month) | $65,160 a year ($5,430 a month) | $67,920 a year ($5,660 a month) | $1 for every $3 above the limit |
| From the month you reach full retirement age | No limit | No limit | Nothing |
The 2027 limits are SSA's official figures and take effect January 1, 2027. Until then, the 2026 limits apply.
Example for 2027. You are 63, collecting $1,400 a month, and earn $35,560 at a job. That is $10,000 over the $25,560 limit, so SSA holds back $5,000. SSA usually does this by withholding whole monthly checks at the start of the year until the $5,000 is covered, then paying you normally for the rest of the year.
Only wages and net self-employment income count. Pensions, investment income, and veterans benefits do not. Our earnings test guide has more examples.
Withheld money is not lost. When you reach full retirement age, SSA recalculates your benefit as if you had started later, skipping the months it held back. If four months of checks were withheld, your reduction drops from 60 months to 56 months, and your check goes from 70% of your full benefit to about 71.7% for the rest of your life.
Changing Your Mind: Withdraw Within 12 Months or Suspend at 67
You get two ways to undo or soften an early claim.
1. Withdraw your application within 12 months. You can cancel your claim up to 12 months after SSA approves it, using Form SSA-521. You can only do this once in your life. The catch: you must pay back everything you and your family received on your record, plus anything SSA withheld for Medicare premiums, taxes, or garnishments. After you repay, it is as if you never filed, and you can reapply later at a higher amount.
2. Suspend your checks at full retirement age. Once you reach full retirement age, you can ask SSA to stop your payments until as late as 70. You earn delayed retirement credits of 8% a year for each year your checks are suspended. The growth is applied to your reduced check, so it does not fully erase the 62 cut, but it narrows it. Payments restart automatically at 70.
Before you suspend, know that:
- A spouse or child getting benefits on your record loses those benefits for the same months. A divorced spouse keeps getting theirs.
- Medicare Part B premiums cannot come out of a suspended check, so you get a bill instead.
- If you also get SSI, suspending makes you ineligible for SSI.
What Claiming at 62 Does to Your Spouse and Survivor
Your choice at 62 affects more than your own check.
Spousal benefits at 62
A spouse can get up to 50% of the worker's full benefit, but only at the spouse's own full retirement age. A spouse who starts at 62 gets 35% less than that, which works out to 32.5% of the worker's full benefit when the spouse's full retirement age is 67.
| Spouse's age when spousal benefit starts | Share of worker's full benefit |
|---|
| 62 | 32.5% |
| 63 | 35.0% |
| 64 | 37.5% |
| 65 | 41.7% |
| 66 | 45.8% |
| 67 | 50.0% |
A spouse's benefit is based on the worker's full benefit, not on the worker's reduced check. So the worker claiming at 62 does not shrink the spouse's spousal amount. What matters is the age the spouse starts. A spouse also cannot get a spousal benefit until the worker has filed for their own.
For anyone born after January 1, 1954, "deemed filing" applies: when you apply for your own retirement benefit or a spousal benefit, you are treated as applying for both, and the early-claiming reduction applies to each. There is no claiming one now and switching to the other at full retirement age. See Social Security spousal benefits 2027 for the full rules.
Survivor benefits
This is where a 62 claim can cost the most. If the worker dies first, the surviving spouse's benefit is based on what the worker was actually getting. A worker who claimed at 62 leaves a smaller survivor check. SSA's rule (called the widow's limit) caps the survivor at the larger of the reduced amount the worker was receiving or 82.5% of the worker's full benefit. If the worker had waited to 70, the survivor could have received up to 124% of that full benefit instead.
A widow or widower can start survivor benefits as early as 60, at 71.5% of the deceased's benefit, rising to 100% at the survivor's own full retirement age.
The Medicare Gap: No Medicare Until 65
Claiming Social Security at 62 does not get you Medicare. Medicare starts at 65 for almost everyone, no matter when you take Social Security. The exceptions are people who have received Social Security disability benefits for 24 months, and people with end-stage renal disease or ALS.
If you leave a job with health insurance at 62, you need about three years of other coverage. Common options:
- ACA Marketplace plan. For 2027 coverage, sold from November 1, 2026, the premium tax credit is available up to 400% of the poverty line: $63,840 a year for one person, $86,560 for a couple. Above that, there is no credit at all. Your entire Social Security benefit counts as income for the Marketplace, including any part that is not taxed. A larger check at 62 can push some couples over the line.
- Medicaid, if your income is low enough. In states that expanded Medicaid, adults under 65 can qualify up to 138% of the poverty line, about $22,025 a year for one person in 2026. All of your Social Security counts here too. Starting as early as January 2027, depending on your state, adults in the expansion group must work, volunteer, or go to school 80 hours a month to get and keep coverage, unless they qualify for an exemption, such as being medically frail.
- COBRA from your old employer, for up to 18 months, at up to 102% of the full premium.
- A spouse's employer plan, if one is available.
When you turn 65 while already on Social Security, SSA enrolls you in Medicare Parts A and B automatically. Part B costs $202.90 a month in 2026, usually taken out of your check. CMS has not yet published the 2027 Part B premium. Our guide to Medicare costs if you retire early covers the gap years in detail.
Before You File at 62: A Short Checklist
- Get your real numbers. Sign in at ssa.gov/myaccount. Your statement shows your estimated benefit at 62, at full retirement age, and at 70.
- Check your health coverage until 65. Price a Marketplace plan with your Social Security counted as income.
- Check whether you will keep working. If your wages will be well above $25,560 in 2027, much of your check may be withheld anyway, which weakens the case for claiming now.
- Think about your spouse. If you are the higher earner, your claiming age sets the survivor benefit your spouse may live on later.
- Ask about disability first if it applies. If a health condition keeps you from working, Social Security disability (SSDI) pays your full, unreduced benefit, and it converts to a retirement benefit at full retirement age. You can apply for both at 62, and if SSDI is approved with a disability onset before your retirement claim, the early reduction is usually removed. See SSDI vs retirement.
- Apply up to four months ahead. You can apply online at ssa.gov/apply, by phone at 1-800-772-1213, or at a local office.
Up to 85% of your benefit can also be subject to federal income tax if your other income is high enough. See is Social Security taxable.
Frequently Asked Questions
How much less is Social Security at 62?
If your full retirement age is 67, which it is for everyone born in 1960 or later, your check at 62 is 30% smaller than your full benefit. A $2,000 full benefit becomes $1,400 a month. If you wait until 70, the same record pays $2,480.
Is the reduction at 62 permanent?
Yes. Your check does not jump to the full amount at full retirement age, and cost-of-living raises apply to the reduced amount. Months withheld under the earnings test are credited back at full retirement age, and you can suspend from full retirement age to 70 to earn delayed credits.
How much can I earn while collecting Social Security at 62?
In 2027 you can earn $25,560 a year ($2,130 a month) before SSA withholds anything. Above that, it holds back $1 for every $2 you earn. In 2026 the limit is $24,480. The limit disappears once you reach full retirement age.
Can I get Medicare at 62 if I take Social Security?
No. Medicare starts at 65 for almost everyone, and taking Social Security early does not change that. Most people retiring at 62 use a Marketplace plan, Medicaid, COBRA, or a spouse's plan until 65.
Can I undo taking Social Security at 62?
Yes, once, within 12 months of approval, by filing Form SSA-521 and repaying everything paid on your record. After that, you can suspend your checks at full retirement age to earn 8% a year until 70.
Does my claiming at 62 reduce my spouse's benefits?
It does not shrink your spouse's spousal benefit, which is based on your full benefit and your spouse's own claiming age. It can shrink your spouse's survivor benefit if you die first. The survivor gets the larger of your reduced check or 82.5% of your full benefit, instead of up to 124% if you had waited to 70.
This article is general information, not financial, tax, or legal advice. Benefit amounts are estimates. Your actual amount is set by the Social Security Administration from your earnings record.
