April has arrived, and with it, Social Security (SSA) brings surprises for you. You probably know that this agency is in charge of distributing retirement pensions and those payments to people who, for health reasons, cannot work. Well, starting this April 2025, new requirements come into effect that could make it more difficult not only to access these benefits but also the amount that each beneficiary receives, regardless of whether the beneficiary has been retired for years or is about to retire.
So, it is important that you are aware of these changes to have a better-planned retirement and avoid surprises once our long-awaited retirement finally arrives.
What is the SSA?
As we told you, it is the agency in charge of distributing pensions in the United States. Estimates agree that the SSA ensures that 73 million people (SSA data from 2025) can live with dignity, whether they are retirees who have correctly completed their working life, workers with health problems, or survivors of deceased workers, being thus their main source of income.
What are the new requirements?
It is key to stay up to date when Social Security makes changes, and we are here to tell you what has changed and what hasn’t in the requirements to receive a monthly benefit. For now, the requirements regarding retirement pensions remain the same: a minimum retirement age and a minimum work history:
- Minimum age: Social Security can only be requested starting at age 62, and be careful, because applying for early retirement will reduce your benefits by up to 30%. The full retirement age, as you may know, is 66.8 years for those born in 1960 or later.
- Those who delay their retirement until age 70 can receive much higher payments, reaching up to approximately $5,180 per month (for those who have contributed for 35 years).
- It is required to have worked at least 10 years to be eligible for any Social Security benefit. It is not necessary for these years to be consecutive, so the requirement can be met with alternating work periods throughout life.
What are the maximum Social Security payments?
As we mentioned a bit earlier, users who have completed their working years and decide to delay their retirement until age 70 will be rewarded and can reach more than $5,000 per month.
How to optimize retirement?
Three simple steps:
- Work at least 35 years
- Save as much as you can during your working stage
- Delay your retirement if possible
What if I’m already receiving SSA?
If you’re already receiving your pension, first of all, congratulations. Second, you don’t need to make any necessary changes. That said, we recommend that you start saving at least 30% of your payments because we don’t know what might happen in the very near future with DOGE’s changes, so it’s better to be prepared for the future that’s coming.
On the other hand, we also recommend staying alert to SSA updates so that, if you need to make any changes, you can do so immediately and make sure your pension is not at risk.
