Did you know the amount you receive from Social Security depends a lot on when you start claiming? In 2025, if you begin at age 62, the maximum monthly benefit is $2,831. But if you wait until age 70, that maximum goes up to $5,108 every month.
This difference happens because of how Social Security adjusts benefits based on when you claim. Claiming before your Full Retirement Age (FRA) lowers your payments permanently. Waiting beyond your FRA adds credits that increase your monthly benefit.
How Social Security Increases Your Benefits Each Year You Delay
If you delay your claim past your FRA, you earn 8% more benefits for every full year you wait, up to age 70. These increases are called deferred retirement credits. For example, if your FRA is 66 years and 10 months, delaying until 70 means a big boost, reaching that $5,108 maximum.
Your basic benefit amount at FRA is called the Primary Insurance Amount (PIA). It’s based on your average earnings over your 35 highest-earning years, adjusted for inflation.
If you claim early at 62, your benefit is reduced because you start receiving money 58 months before your FRA. The reduction formula takes away 5/9 of 1% for the first 36 months early, and 5/12 of 1% for the remaining months.
Delaying after FRA adds about two-thirds of 1% per month (8% per year) to your benefit. This increase stops when you turn 70.
Who Gets the Maximum Social Security Benefit?
The high amounts mentioned ($2,831 at 62, $5,108 at 70) assume you worked 35 full years earning the maximum taxable income, which in 2025 is $176,100 per year. Less than 6% of people reach this level.
Studies show that if you expect to live beyond 80-82 years, waiting until 70 to claim Social Security maximizes your total lifetime income. This is because the bigger monthly checks after 70 make up for the years without payments.
Social Security Payment Dates for June 2025
There are some changes to Social Security payment dates in June 2025 that could affect how you plan your budget.
Normally, payments come on the 1st of the month. But since June 1 is a Sunday in 2025, the payment will be made early, on Friday, May 30. That means no new payment will arrive during June, so it’s important to budget accordingly.
For retirees and pensioners, payment dates depend on your birthday:
- If your birthday is between the 1st and 10th: Payment arrives Wednesday, June 11.
- Birthdays from 11th to 20th: Payment comes Tuesday, June 18 (one day early because of the Juneteenth holiday).
- Birthdays between 21st and 31st: Payment arrives Wednesday, June 25.
If you started receiving benefits before May 1997, your payment date is Tuesday, June 3, regardless of your birthday.
Your Social Security benefits in 2025 can vary greatly depending on when you claim — the earlier you start, the smaller your monthly payment. Waiting until age 70 maximizes your monthly income.
For those relying on Social Security payments, June 2025’s schedule brings early deposits and adjusted dates because of weekends and holidays. Being aware of these dates helps with better financial planning.