You can receive up to $5,108 per month in social security benefits if you have the following requirements
The Social Security Administration sends out almost 73 million payments each month to its program beneficiaries, majority of whom are retired individuals. The government agency also extends financial protection to survivors of deceased workers and disabled people.
The administration aims to provide financial stability for retirees who paid into the Social Security system during their working years.
According to the Social Security Administration, the estimated average amount a retired person can claim changes every month. For example, the projected monthly Social Security retirement benefit for January 2025 is $1,976.
This is thousands of dollars below the biggest amount a retiree can receive, because the maximum Social Security retirement benefit payable is $5,108 for the year 2025. However, not everyone is qualified to receive this number.
The maximum benefit you are eligible to receive depends on the age you choose to retire. For example, if you retire at the full retirement age of 67 in 2025, your maximum benefit would be $4,018.
If you retire at age 62 this year, your maximum benefit would be $2,831, about 30% lower than it would be at the age of 67. If you retire at age 70 in 2025, your maximum payment would be $5,108.
However, retirement age is not the only consideration. To earn the maximum benefit, you will need to meet some requirements regarding your annual salary.