Some retirees aged 70 will receive up to $5,108 on January 8. This payday will be for all the seniors on Social Security after May 1997 who are not on SSI and whose birthday is from the 1st to the 10th.
To get the largest Social Security payment in 2025, you must have filed at 70, but this will not be enough. Remember that those who delay retirement until they are 70 will take advantage of a 24% extra in their monthly payment. Of course, it will imply working a few more years but it will pay off if you can cope with it.
3 more requirements to get $5,108 in January 2025
Apart from filing at 70, you must pay enough payroll taxes to the Agency. If you do not do that, you will not be able to grab the largest benefit payment in 2025. Remember that to achieve it, you must earn the taxable maximum for a minimum of 35 years.
Not only is it difficult to work until you are 70, but you will also have to earn the contribution and benefit base all those years. In 2024, the taxable maximum was $168,600. However, it has gone up to $176,100 in 2025.
If you have not worked for 35 years in works covered by SSA, you will not be eligible either. Other possible payment dates will be available after January 8, 2025. Checklist to get $5,108 in January 2025:
- apply for Social Security at 70
- work for 35 years
- have jobs covered by SSA
- earn the contribution and benefit base for the necessary number of years (35)
What if I file for Social Security before turning 70?
This is possible but you will reduce your maximum benefit. For example, if you meet all the requirements the Administration set but you file at 62, the largest benefit payment possible will be $2,831.
Filing at Full Retirement Age will be a much better idea. This will allow you to get 100% of your benefits. Still, the payment will be lower at FRA than at the age of 70.
Those seniors who file at FRA can only get a payment of up to $4,018. That is about $1,090 lower than the largest benefit payment from Social Security in 2025.
What are the advantages of delaying Social Security benefits until 70 beyond just higher payments?
Increased Survivor Benefits – If you are married, delaying your benefit can increase the survivor benefit for your spouse, ensuring they receive a higher monthly check if you pass away first.
Longevity Protection – By waiting until age 70, you lock in a larger monthly benefit for the rest of your life. This can serve as a hedge against outliving your savings in later years.
Higher Cost-of-Living Adjustments (COLAs) – The annual COLA, which is applied to your benefit, will be calculated on a higher base amount. This means your future increases can be larger in dollar terms.
Potential Tax Advantages – Delaying Social Security might allow you to manage withdrawals from other retirement accounts (like IRAs or 401(k)s) more strategically in your 60s. In some cases, keeping your taxable income lower during these years can reduce taxes over your lifetime.
Flexibility with Other Retirement Distributions – When you wait until 70 to draw Social Security, you can use earlier retirement years to optimize Roth conversions or draw down taxable accounts. This may improve your long-term tax and estate planning.
