Social Security has been the most important social program for American retirees for decades. Workers pay Social Security payroll taxes year after year with the expectation of receiving a guaranteed income in their retirement.
Considering how important Social Security is to retirees, it makes sense that people would aim to receive as much as they can from the program. In 2025, the most anyone can receive in monthly Social Security benefits is $5,108. If you have ambitions of receiving this maximum benefit (or the maximum in future years), here are three things you should know.
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1. You must earn above the wage base limit for 35 years
Most Americans pay Social Security payroll taxes on their earned income. Employers and employees split the 12.4% tax, paying 6.2% each (self-employed people pay the full amount). However, only a certain amount of income is subject to this tax, and that amount is called the “wage base limit.”
Since income earned above the wage base limit is not subject to Social Security payroll taxes, it’s also not considered when calculating monthly benefits. To be eligible for the maximum benefit, you must earn at least the wage base limit for 35 years, which is the period of time Social Security will consider when calculating your monthly benefit.
For example, the wage base limit in 2025 is $176,100, so if this year is one of the 35 years used to calculate your benefit, you’ll need to earn at least $176,100. Even earning slightly below that amount would disqualify you from being eligible for the maximum benefit.
There are a few exceptions, but in most cases, the wage base limit increases annually. Below you can see where the limit has stood for the past 10 years:
|
Year |
Wage Base Limit |
|---|---|
|
2024 |
$168,600 |
|
2023 |
$160,200 |
|
2022 |
$147,000 |
|
2021 |
$142,800 |
|
2020 |
$137,700 |
|
2019 |
$132,900 |
|
2018 |
$128,400 |
|
2017 |
$127,200 |
|
2016 |
$118,500 |
|
2015 |
$118,500 |
Source: Social Security Administration.
2. You must delay your benefits until you turn 70
The earnings portion is one part of the equation. The other part requires patience as you’ll need to delay claiming benefits until you turn 70.
Your full retirement age is when you’re eligible to receive your base Social Security benefit (called the primary insurance amount), but you can delay benefits past that age to increase them.
For each month you wait beyond your full retirement age to claim, your monthly benefit increases by 2/3 of 1% until you reach age 70. This works out to 8% annually and a 24% total increase if your full retirement age is 67.
Below are full retirement ages by birth year:
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To receive the maximum Social Security benefit, you must meet the earnings criteria mentioned above and delay claiming benefits until 70. Only doing one of the two would disqualify you from receiving the maximum benefit.
3. The vast majority of people won’t qualify for the maximum benefit
Between the two above criteria, the earnings portion is generally what stops people from receiving the maximum Social Security benefit. It’s much easier to delay when you claim benefits versus earning the wage base limit for 35 years.
According to the Social Security Administration, only around 6% of covered workers earn above the wage base limit each year. And only around 20% of current and future covered workers will earn above the wage base limit for at least one year. Considering that, it’s understandable why only a tiny small portion of people actually qualify for the maximum benefit.
Regardless of whether you qualify for the maximum benefit, your goal should be to maximize your personal benefit while treating Social Security as supplemental income in retirement, not your main income source.
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