People aged 69 and up who are still working can get more money from Social Security when they leave. In fact, people who make a lot of money might be able to get the biggest payment in 2025.
As of 2024, the biggest Social Security retirement amount is $4,873. However, after COLA in 2025, it will go up. You can get more money than in 2024 if you meet all the conditions. If you wait to leave after your Full Retirement Age, you can get 8% more each year in benefits.
69-year-olds who can get more than $4,873 from Social Security in 2025
If this sounds like you, you need to meet all of Social Security’s requirements, which are not easy at all. No matter how hard the job is, some people are so good at it that they will qualify.
Here is a list of the most important things you need to do to get over $4,873 in 2025 if you are 69 years old in 2024:
- workers must have had jobs covered by SSA
- workers must have paid enough payroll taxes to SSA
- workers must apply for Social Security at the age of 70
- workers must have earned the contribution and benefit base for 35 years
- workers must have worked for a minimum of 35 years
69-year-olds average Social Security check
The average payment from a retirement plan is $1,919 as of July 2024. Everyone who has retired gets this average amount. Still, the average retirement income for people aged 69 is around $1,950.
So, there isn’t a big difference between the amount that workers in this age group make on average and the amount that workers in this age group make on average. Supplemental Security Income can help you if your Social Security payment at age 69 is very low.
It can give you a payment of around $695 on average. If you qualified for the most SSI, you can get up to $943 for single people or up to $1,415 for married couples. If you can’t get $4,873, you can still wait to retire until you are 70 and get an extra 8% a month.