Don’t Miss Out: Retirees Aged 66-67 Can Claim $3,822 in Social Security Payments Before the 2025 COLA

By Ronald Rodriguez Last updated Jan 13, 2025

CNS –

As we head into 2025, retirees aged 66 and 67 have a valuable opportunity to claim significant Social Security payments before the 2025 Cost of Living Adjustment (COLA) takes effect. With the possibility of a COLA increase in the new year, understanding how to maximize your Social Security benefits before the change is essential.

If you’re approaching or are already in this age group, here’s what you need to know about claiming $3,822 in Social Security payments and ensuring that you don’t miss out on the financial boost that could be rightfully yours.

What is the $3,822 Social Security Payment?

For retirees aged 66-67, the maximum Social Security benefit for 2025 could reach as much as $3,822 per month. This is the maximum amount you could receive if you’ve worked for at least 35 years, earned the highest taxable income each year, and waited until your full retirement age (FRA) to start claiming benefits.

However, the $3,822 amount isn’t a guaranteed payment for everyone. It represents the maximum benefit, which depends on your lifetime earnings history and the age at which you begin receiving benefits. For many people, the actual monthly benefit will be lower, but it’s important to know that if you haven’t already claimed your benefits, now is the time to make sure you receive the most you’re entitled to—especially before any potential COLA adjustments change the numbers in 2025.

What is COLA and How Does It Affect Social Security Payments?

COLA, or the Cost of Living Adjustment, is an annual adjustment made to Social Security payments to help retirees keep up with inflation and the rising cost of goods and services. The COLA is based on changes in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).

In 2025, a COLA increase could mean higher monthly payments for Social Security beneficiaries. However, the increase isn’t always substantial. Some years, the adjustment is small, while in others, it can be a significant boost. Retirees who claim their benefits early could see the impact of the COLA, but it’s also important to consider the long-term financial implications.

For retirees aged 66-67, the COLA increase may slightly adjust your monthly payments, but claiming before the adjustment may allow you to lock in a higher base payment that will be subject to future COLA increases. Timing matters—delaying your claim until you reach full retirement age or beyond can have significant benefits.

Why Claiming $3,822 Before 2025 COLA Matters

Lock in a Higher Base Payment: If you wait until your FRA to claim Social Security, you’ll be entitled to your full monthly benefit, which for many retirees could be as much as $3,822 per month. Once you claim, this amount becomes your “base” Social Security benefit. Any future COLA increases will be applied to this base amount, meaning you’ll get a percentage boost in future years based on the highest possible amount for your situation.
Avoid Reductions from Early Claiming: If you choose to claim Social Security benefits before your FRA, your monthly payment will be reduced. The earlier you claim (as early as age 62), the more your benefit will be permanently reduced. For instance, if you claim at age 62, your monthly payments could be reduced by as much as 30%. This reduction is permanent, meaning you’ll receive a smaller base amount for the rest of your life, even if COLA increases are applied.
The Benefit of Delayed Retirement: On the flip side, waiting to claim Social Security benefits beyond your FRA (up to age 70) can increase your monthly benefit by a certain percentage, typically 8% per year. By claiming at your full retirement age or delaying until 70, you can increase your monthly payment and potentially maximize the benefit you receive, making future COLA adjustments more significant in the long run.
Maximizing Your Lifetime Benefits: By claiming $3,822 before the COLA increase, you’re setting yourself up for the best possible base benefit to carry forward. With inflation continuing to rise, every bit of extra monthly income can help you keep up with costs. The COLA increase, when applied to a higher starting benefit, will result in a greater monthly amount over time.

How to Claim $3,822 in Social Security Payments

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To claim the maximum monthly benefit of $3,822, you’ll need to:

Wait Until Full Retirement Age (FRA): For most people born between 1943 and 1954, your FRA is 66. For those born in 1960 or later, your FRA is 67. You’ll need to wait until this age to claim the full benefit. If you claim before FRA, you’ll face permanent reductions in your monthly payment.
Ensure You’ve Worked 35 Years: The Social Security Administration (SSA) calculates your benefit based on your 35 highest-earning years. If you haven’t worked for 35 years, zero-income years are factored in, lowering your overall monthly payment. It’s important to have a solid work history to achieve the highest possible benefit.
Check Your Earnings Record: Make sure that your earnings record with the SSA is accurate. You can review your record by creating or logging into your account at www.ssa.gov. Ensure that your lifetime earnings are reported correctly, as mistakes in your record could lead to reduced benefits.
Apply Online or In Person: Once you’re ready to apply, you can do so through the SSA website, over the phone, or in person at a local SSA office. The application process is straightforward, but it’s important to know your options and submit your application before the COLA increase if you want to lock in your benefit rate before it changes.

Conclusion: Don’t Miss Out on Maximizing Your Social Security Payments

Retirees aged 66-67 have a unique opportunity to claim the maximum Social Security benefit of $3,822 before the 2025 COLA increase. By waiting until your full retirement age, you can secure the highest possible base benefit, which will then be adjusted for inflation in the future.

Don’t miss out on this chance to lock in a higher monthly payment that will help you meet your retirement goals and keep up with rising living costs.

To take full advantage of your Social Security benefits, make sure you’re aware of the timing, claim at the right age, and ensure that your earnings record is accurate. By taking these steps, you can secure a comfortable and financially stable retirement, even as COLA increases take effect.