Beneficiaries cannot claim Social Security benefits until they reach the age of retirement. In this article, read and find out what is the age that receives the maximum retirement benefits in the Social Security check 2023!The Social Security Administration (SSA) states that a beneficiary can receive the maximum amount of benefits if they have worked for 35 years. This is because they earn the maximum wage that is subject to the SSA’s withholding tax each year. In addition, the postponement of claiming the retirement benefits until the age of 70 will give the beneficiary a maximum of $4,555 in Social Security check 2023.
According to Nadelle, last January, the average Social Security payment was worth $1,745.35. Unfortunately, the amount is more than 60% less than the maximum amount of benefits worth $4,555. The incomes in 2023 have a base limit of $160,200 and the maximum amount that is taxable has increased over time because of the rising inflation. For instance, in 1985, the taxable amount is only $38,600. In 2000, the amount has increased to $76,200 and up to $106,800 in 2010.
How to Receive Maximum Amount in Social Security Check 2023
An article on the Social Security Administration website states that to receive the maximum amount of benefits in the Social Security check 2023, a beneficiary must have worked and contributed to the system for at least 10 years. If a beneficiary decides to claim the Social Security benefits at the earliest age of 62, the maximum amount possible will only be $2,572 each month. For the age of 67, the amount will increase to $3,627 and up to $4,555 for the age of 70.