The United States Government, through the Social Security Administration, issues monthly payments which are about $1,978 on average. However, there are higher payment amounts if you qualify for them. This is possible if you were a high earner for many years and paid enough payroll taxes to the Administration.
The first requirement to collect $5,108 in March 2025 has to do with the number of years you have worked for. In fact, you need a minimum of 35 years of work, and sometimes you may need even more. Nevertheless, this is not enough.
3 more requirements to get $5,108 from Social Security
Apart from having worked for 35 years, it is essential to have done so in jobs covered by SSA. You will not be covered by SSA if you had one of these jobs:
- a Federal, State, or local government agency,
- a nonprofit organization, or
- an employer in another country
Another condition is to have earned the taxable maximum for 35 years. The taxable maximum is the same as the contribution and benefit base. Finally, the last requirement will be to file at the age of 70.
Why do you need to file for Social Security at 70 to get up to $5,108 in 2025?
The main reason to file at the age of 70 is to get 24% extra from Social Security. This additional money comes from delayed credits. A reward the Agency offers to all workers who file at 70.
However, if you decide to file at 62, you will get a 30% reduction. So, the largest Social Security payment at 62 can only be up to $2,831. Filing at Full Retirement Age is when you get 100% of your benefits.
Still, the largest benefit payment will be up to $4,018. So, if you have been a high earner for many years, remember all the requirements to get $5,108 in March 2025:
- file at 70
- have jobs covered by SSA
- earn the taxable maximum for 35 years
- work for 35 years