Some people who qualify for Supplemental Security Income (SSI) might have the right to Social Security benefits. The application to receive SSI benefits can also be an application form for Social Security benefits. Collecting additional details from the applicant is often necessary before we can award Social Security benefits.
- These sections offer information about who is eligible for Social Security benefits.
- TO BE ELIGIBLE FOR SOCIAL SECURITY BENEFITS AS A WORKER YOU MUST BE:
- Small blue ball age 62 years or older and a person with an impairment or blindness.
- Tiny blue ball”Insured” with enough credit for work.
If you are applying on January 1, 1996, or after, you must at least be a U.S. citizen or lawfully current non-citizen to be eligible for each month’s Social Security benefits.
HOW MUCH WORK DO YOU NEED TO BE”INSURED”?
Work is measured by “work credits”. Earning as many as four work credits yearly is possible based on income—the required earnings to make credit for work increases annually as wages rise.
To be eligible for the majority of kinds of benefits (such as those determined by blindness or retirement), You must earn the equivalent of a single work credit every calendar year that passes between the age of 21 to the year you attain at 62, or you are a person who has a blind or disability with 40 credits. At least six credits are required regardless of your age.
If you want to qualify for Social Security benefits based on an impairment that is not blindness, you must be employed for a long time and in a recent time frame as per the Social Security rules. The amount of work credits needed to qualify to be eligible for disability benefits is contingent upon the age at which you fulfilled the qualifications of an individual with disabilities. It is generally required to have 20 credits earned over the past ten years that ended when you were disabled. But, younger people may have a lower chance of qualifying with fewer distinctions.
These are the rules:
Small blue Before the age of 24, you could be eligible if you’ve earned six hours of work credit during three years that ends the date your disability begins.
Small blue ball Age 24 to 31 — you could be eligible if you can show credit by having been employed for half of the period between the age of 21 until the point you’re disabled.
Example: If, at the age of 27, you are disabled and you become disabled, you will require 12 hours of work credit within the last six years (between the ages of 21 and 27).
A tiny blue ball, 31 or more than that in general, is required to collect the number of working credits listed in the graph below. You must gain at least 20 credits during the ten years before being disabled.
The reason it is beneficial to wait until you can claim Social Security
The eligibility for Social Security retirement benefits starts at 62 for those who have completed 40 credits and ten years of qualified working experience.
Employers and employees must pay Social Security a 6.2 per cent payroll tax. The tax in 2023 applies to up to $160,200 of earnings.
Contributions to the fund count towards Social Security retirement benefits workers can claim in later life. In general, the more your total earnings throughout your lifetime, the greater the benefit you could be eligible to receive.
What Is the Social Security Tax Cap?
2023, a maximum of $160,200 ($168,600 for 2024). The earnings above that amount are not tax-deductible to pay Social Security.19
Is It Better to Take Social Security at 62 or 67?
It is your first chance to receive Social Security benefits at age, but the longer you wait, the more significant benefits you’ll get. Gifts will be complete when you reach your full retirement age; however, the more you delay until the age of 70, the more significant amount you’ll be able to receive benefits. The time is worth waiting if you can.5
At What Age Is Social Security No Longer Taxed?
Social Security is taxed at all times. There isn’t a point that Social Security stops being taxed. If your income is more significant than an amount and you earn more than that, you’ll be assessed tax on Social Security.20
The Bottom Line
Nearly all retired people across The United States receive Social Security benefits once they retire, as long as they’ve reached the retirement age. But those who’ve had a short time working in the U.S. workforce, whether due to homemaking full-time or working overseas, may not be eligible under their name. (Some might be eligible to receive spousal benefits if their partner’s spouse is eligible to receive payments.) A few government workers need to be qualified. However, some still need to be suitable and can find ways to be eligible.