These are the 69-year-olds that could receive over $4,873 in 2025 from Social Security
According to Vibes.okdiario, If you’re 69 years old and still working, there are ways to increase your Social Security retirement benefits. High earners, in particular, may be able to qualify for the largest possible payment in 2025.
Social Security Maximum Benefit in 2025
As of 2024, the largest Social Security retirement benefit is $4,873 per month. However, this amount is expected to increase in 2025 due to the Cost-of-Living Adjustment (COLA). Delaying retirement past Full Retirement Age can boost your benefits by 8% per year. For those who wait until age 70, this increase could result in even higher payments in 2025.
How 69-Year-Olds Can Receive Over $4,873 in 2025
To receive more than $4,873 in 2025, you must meet several key requirements. While challenging, it’s possible for successful high earners to qualify. Here’s a checklist of what is needed:
- Employment Covered by SSA: You must have worked in jobs covered by the Social Security Administration (SSA).
- Paid Payroll Taxes: You need to have paid enough payroll taxes into the SSA over your career.
- Apply for Benefits at Age 70: To maximize your payment, you should apply for Social Security when you turn 70.
- Meet Contribution Base for 35 Years: You must have earned the contribution and benefit base for at least 35 years.
- Worked for 35 Years: You must have a minimum of 35 years of work under your belt.
Average Social Security Check for 69-Year-Olds
As of July 2024, the average Social Security retirement benefit for all retired workers is $1,919 per month. For 69-year-olds, the average payment is slightly higher, at about $1,950. While there isn’t a substantial difference between the average for all workers and those in this age group, those receiving lower payments may consider other financial assistance.
Also Read: SNAP benefits: Food Stamp checks of up to $527 before 5 Days
Supplemental Security Income (SSI) as Additional Support
If your Social Security payment is particularly low at age 69, you may qualify for Supplemental Security Income (SSI). The average SSI payment is around $695, but those eligible for the maximum amount can receive up to $943 for individuals and up to $1,415 for married couples. If you cannot reach the $4,873 threshold through Social Security alone, delaying retirement until age 70 can still provide an 8% increase in benefits per year.
