"What is the full retirement age for Social Security in 2026?"

"If you were born in 1960 or later, your full retirement age is 67. For people born between 1955 and 1959 it phases up from 66 and 2 months to 66 and 10 months. Full retirement age is the age at which you receive 100% of your earned benefit."

"How much more do I get if I wait until 70 instead of claiming at 62?"

"For someone whose full retirement age is 67, claiming at 62 pays about 70% of your full benefit, while waiting until 70 pays about 124%. Waiting from 62 to 70 raises the monthly amount by roughly 77%, and that higher amount is permanent and grows with future cost-of-living adjustments."

"How many years do I need to work to qualify for Social Security?"

"You generally need 40 work credits, which is about 10 years of work. Your benefit is then based on your highest 35 years of earnings, so additional working years can replace lower-earning ones and raise your benefit."

"What is the 2026 Social Security cost-of-living adjustment?"

"Social Security and SSI benefits increased 2.8% for 2026 under the annual cost-of-living adjustment (COLA), which is tied to inflation as measured by the CPI-W."

"Can I work while collecting Social Security?"

"Yes. If you claim before full retirement age and keep working, Social Security temporarily withholds part of your benefit once your earnings pass an annual limit set by SSA, but those amounts are credited back later. Once you reach full retirement age there is no earnings limit."

Social Security Retirement Benefits: Full Retirement Age, Claiming Age & 2026 COLA

Social Security retirement is the federal benefit you earn by paying into the system through payroll taxes during your working years. The single biggest decision is when to start - claiming early permanently lowers your monthly check, and waiting permanently raises it. Here is how the math works, using the rules in effect for 2026.

How your monthly benefit changes by claiming age

You can start retirement benefits as early as 62 or as late as 70. The longer you wait (up to 70), the larger every future check. The table below shows the monthly benefit as a share of your full benefit for someone whose full retirement age is 67 (anyone born 1960 or later):

Age you start	Monthly benefit (% of full)	Effect
62	~70%	Largest permanent reduction
63	~75%
64	~80%
65	~86.7%
66	~93.3%
67 (full retirement age)	100%	Your full earned benefit
68	108%	+8% per year for waiting
69	116%
70	124%	Maximum - no benefit to waiting past 70

The increase for delaying past full retirement age (the “delayed retirement credit”) is 8% per year, or two-thirds of one percent per month, up to age 70. There is no advantage to waiting beyond 70.

Full retirement age by birth year

Full retirement age (FRA) is when you receive 100% of your earned benefit. It depends on the year you were born:

Year of birth	Full retirement age
1943 - 1954	66
1955	66 and 2 months
1956	66 and 4 months
1957	66 and 6 months
1958	66 and 8 months
1959	66 and 10 months
1960 and later	67

How you qualify: work credits

You earn Social Security credits when you work and pay Social Security taxes. You need 40 credits - about 10 years of work - to qualify for retirement benefits. Your benefit is then calculated from your highest 35 years of indexed earnings, so years with higher pay replace your lowest years and lift the final number. If you worked fewer than 35 years, the missing years count as zeros and pull the average down.

To estimate the earnings that feed this calculation, see our salary data by job and city and our methodology.

The 2026 cost-of-living adjustment (COLA)

Benefits are adjusted every year for inflation. For 2026, the COLA is 2.8%, applied to Social Security and Supplemental Security Income (SSI) payments. The adjustment is based on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). Because the increase compounds on your base benefit, claiming a larger benefit (by waiting) also means every future COLA is applied to a bigger number.

Social Security is paid for by a dedicated payroll tax. It comes straight out of your paycheck, split between you and your employer:

Who pays	Social Security tax	Medicare tax
Employee	6.2%	1.45%
Employer	6.2%	1.45%
Self-employed	12.4% (both halves)	2.9%

The 6.2% Social Security tax applies only up to an annual earnings cap (the “taxable maximum”), which SSA raises each year. To see exactly how this tax reduces your take-home pay, use our paycheck calculator or browse take-home pay by state.

Spousal and survivor benefits

Social Security is not only an individual benefit. A spouse can receive up to 50% of the worker’s full benefit, and a surviving spouse can receive up to 100% of what the deceased worker was receiving. These benefits have their own claiming-age rules, and a survivor benefit can be especially valuable, which is one reason the higher earner in a couple often delays claiming.

Official 2026 dollar amounts

The specific dollar figures - the taxable maximum, the annual earnings-test limits, the maximum benefit at full retirement age, and the average retired-worker benefit - are set by SSA each year and change with the COLA. Because these are year-specific and money-sensitive, confirm the current numbers directly at the source: SSA’s official 2026 COLA fact sheet.

Sources and a note

This page summarizes the rules of the Social Security retirement program. Figures reflect the 2026 program year. Primary sources: the U.S. Social Security Administration - Cost-of-Living Adjustment, Retirement Benefits, and Starting Your Benefits Early. This is general information, not financial or tax advice; your own benefit depends on your earnings record and personal circumstances. For an estimate based on your record, create a free my Social Security account at ssa.gov.