If you are in the US and are turning 62 in May 2025, there is good news – some people can get a Social Security pension of up to $2,831 per month at this age. But note, not everyone will get this amount. There are some special conditions for this which apply only to some people.

What is required to get this much money?

If you want a pension of $2,831, then you must have earned well for 35 consecutive years during your career, that too according to the maximum taxable income set by Social Security every year. This income limit for 2025 is $176,100. That is, if you have earned this much every year for so many years and you have not taken any gap (such as a break from work, illness, or family responsibilities), only then you can become eligible for this maximum pension.

What does it mean to get a pension at the age of 62?

If your Full Retirement Age is 67 and you start taking a pension earlier, i.e. at 62, your amount is reduced by about 30%. So, if you were entitled to $4,018 at 67, it will be reduced to about $2,831 per month** at 62.

How does Social Security calculate your pension?

1. 35 years of earnings are averaged – if you have worked for less time, zeros are added to it, which reduces your average.
2. Earnings each year have to reach the maximum taxable limit, which is $176,100 in 2025.
3. Early pension is subject to a reduction, and this reduction is permanent. Meaning you will not get a chance to correct it later.

Are you eligible?

Only people who:

• Have had a solid income for 35 years
• Have not taken any breaks in work
• Have kept their earnings limited at age 62 so that their Social Security is not cut

What if you get a pension while working?

If you start getting a pension at 62 and still earn more than $23,400 a year, you’ll be deducted $1 for every $2 you earn in excess – this will continue until you reach age 67.

How to check your benefit?

You can see how much pension you’ll get through your “my Social Security” account:

• Visit the website www.ssa.gov/myaccount
• Create an account or log in
• View details of your earnings and potential pension

Tips for increasing your pension:

1. Work for at least 35 years, so that no “zero” years are added.
2. Earn more each year, so that your average increases.
3. Delay pensions – waiting until age 67 or 70 is beneficial.
4. Check your spouse’s pension, as it may be more in some cases.
5. Do tax planning so that your pension is taxed less.
6. Pay attention to the COLA, as it increases slightly each year.

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