If you’re considering claiming Social Security benefits at age 62, time is running out. Retirees who qualify for the maximum early retirement benefit of $2,831 per month have only seven days left to apply and receive their payment in the upcoming February cycle.
This payment is part of the 2025 Social Security Cost-of-Living Adjustment (COLA), which increased benefits by 2.5% to help retirees keep up with inflation. But remember, claiming benefits at 62 means a permanent reduction in your monthly payments compared to waiting longer.
Who Qualifies for the $2,831 Benefit?
To be eligible for the full $2,831 monthly check at age 62, you must meet specific requirements:
- You must have worked and paid Social Security taxes for at least 35 years.
- Your earnings must have consistently hit the SSA’s annual taxable income limit. For 2025, that limit is $176,100.
- You must apply for benefits at age 62.
While getting money sooner can be tempting, it’s important to note that claiming early reduces your total monthly payout for life.
How Early Claiming Affects Your Benefit Amount
If you apply at 62, you will receive a permanently reduced benefit—about 30% less than if you waited until Full Retirement Age (67). Here’s how your potential benefit changes based on when you claim:
- At 62: $2,831 per month
- At 67 (Full Retirement Age): $4,018 per month
- At 70: $5,108 per month
That’s a huge difference. If you can afford to wait, delaying your claim could mean thousands of extra dollars in retirement.
Upcoming Social Security Payment Schedule
If you apply before the deadline, your payment will arrive based on your birth date:
- Born between the 1st and 10th: Paid on February 12
- Born between the 11th and 20th: Paid on February 19
- Born between the 21st and 31st: Paid on February 26
To receive your $2,831 check on February 19, 2025, you must apply by February 15, 2025.
How to Apply for Social Security Benefits
Applying for Social Security is simple, and you can do it in three ways:
- Online: Visit the Social Security Administration’s website and apply electronically.
- By Phone: Call the SSA helpline and speak with a representative.
- In-Person: Schedule an appointment at your local Social Security office.
Make sure to have the following documents ready:
- Your Social Security number
- Your birth certificate
- Your financial and employment records
Having these on hand will speed up the process and ensure you don’t run into any delays.
Final Thoughts – Should You Claim Now?
Deciding when to start collecting Social Security is a big financial decision. While applying at 62 gets you money sooner, it also locks in a lower monthly payment for life. If you can wait, delaying until 67 or even 70 could significantly boost your retirement income.
However, if you need the money now, don’t wait—you have only seven days left to claim your $2,831 check!
