If you’re 70 years old and looking forward to your Social Security payment, there’s exciting news for you! Starting on April 3, 2025, some retirees could receive up to $5,108 in monthly Social Security benefits. But how do you know if you’re eligible for this top-tier payout? In this article, we’ll explain the eligibility criteria, the factors affecting your Social Security benefits, and tips to help you qualify for a larger payout.
What Is Social Security and How Does It Work?
Social Security is a government program that provides monthly income to people when they retire, become disabled, or after someone has passed away. For retired individuals, the amount of money they receive depends on how much they earned during their working years, how long they worked, and when they choose to start collecting their benefits.
Why Waiting Until Age 70 Matters
You can begin receiving Social Security benefits as early as age 62, but doing so will result in smaller monthly payments. The best way to get the maximum payout is to wait until you are 70. When you delay your benefits until then, your monthly payment increases due to “delayed retirement credits.” These credits add a percentage to your payout each year you wait beyond your full retirement age (which is between 66 and 67, depending on when you were born).
Waiting until 70 can increase your monthly payout by up to 32% compared to taking benefits earlier. That’s why if you’re 70 and can wait, you should consider delaying your claim to get the most money possible.
Eligibility Criteria for the $5,108 Maximum Benefit
To qualify for the maximum monthly Social Security benefit of $5,108 at age 70, you need to meet a few key requirements:
1. High Lifetime Earnings
You must have earned at or above the maximum taxable earnings limit for most of your career. For 2025, this limit is $176,100. The higher your earnings, the higher your contribution to Social Security, which means a higher benefit.
2. A Full 35-Year Work History
Social Security calculates your monthly benefit based on your highest 35 years of earnings. If you worked fewer than 35 years, the missing years are treated as $0, which lowers your average income and, in turn, your benefits. Therefore, it’s important to have a full 35-year work history.
3. Delaying Benefits Until Age 70
The most important factor for receiving the maximum benefit is waiting until age 70 to begin collecting Social Security. For each year you delay, your monthly payout increases by a guaranteed 8%. By waiting until age 70, you can get the maximum benefit possible.
Payment Schedule: When Will You Get Paid?
Your payment date will depend on your birth date and when you first started receiving Social Security. If you qualify for the $5,108 benefit, you will receive it starting on April 3, 2025. If you fall into certain other categories, such as receiving both Social Security and Supplemental Security Income (SSI), your payment may arrive on the same date. For everyone else, payments will be scheduled later in the month, according to SSA’s rules.
Average vs. Maximum Benefits: What Most People Receive
While $5,108 is the maximum benefit, most retirees won’t receive that amount. The average Social Security benefit in 2025 is expected to be about $1,976 per month. This amount is common for retirees who have had moderate earnings over their lifetime and who claim benefits at or around their full retirement age. Only those with a high lifetime earnings record and who delay claiming their benefits until age 70 are likely to receive the maximum payment.
6 Smart Ways to Maximize Your Social Security Benefits
Even if you’re not on track to receive the maximum $5,108 benefit, there are still ways to increase the amount you receive each month. Here are six smart tips:
1. Earn More Throughout Your Career
Your Social Security benefit is based on your highest 35 years of earnings. If you increase your salary over time by getting promoted or developing new skills, you can increase your future benefits.
2. Work Longer
If you’ve had years with low income or no income at all, working a few more years can help replace those low years with higher earnings, boosting your Social Security payout.
3. Delay Claiming Benefits
By delaying your benefits until you reach age 70, you can increase your monthly payout by up to 8% for each year you wait. This is a guaranteed return, so delaying is a smart way to maximize your Social Security.
4. Use Spousal Benefits Strategically
If you are married, you may be eligible for spousal benefits. This could allow you to receive up to 50% of your spouse’s benefit, which may be helpful if your spouse has earned more than you.
5. Review and Fix Your Earnings Record
Your Social Security benefits are based on your earnings record, so it’s important to check it regularly. If there are any mistakes, you can request corrections through the SSA’s online portal to ensure you’re receiving the correct amount.
6. Plan for Taxes on Benefits
Some of your Social Security income may be taxable, depending on how much other income you have in retirement. Planning ahead can help you minimize your tax burden, so more of your Social Security payment stays in your pocket.
Getting the maximum Social Security payment of $5,108 at age 70 is possible, but it requires a combination of high lifetime earnings, a full 35-year work history, and patience to delay claiming until age 70. While most retirees will receive a lower amount, there are many strategies you can use to increase your Social Security payout. By earning more, working longer, and delaying your benefits, you can set yourself up for a financially secure retirement. Keep track of your earnings, plan ahead for taxes, and consider using spousal benefits to maximize your Social Security income.
FAQ’s
Can I receive $5,108 if I start Social Security before age 70?
No, to receive the maximum Social Security benefit of $5,108, you must wait until age 70 to start collecting benefits.
What happens if I have less than 35 years of work history?
If you have fewer than 35 years of work history, Social Security will fill in the missing years with $0, which will reduce your overall benefit.
How do I check my Social Security earnings record?
You can check your earnings history and request corrections through the Social Security Administration’s online portal.