What Is the Maximum Dollar Benefit for Social Security at Full Retirement Age?

What Is the Maximum Dollar Benefit for Social Security at Full Retirement Age?

As of 2015, the maximum monthly Social Security benefit for a recipient at full retirement age is $2,663, according to the Social Security Administration. Full retirement age is between 65 and 67, depending on year of birth. Reduced benefits can begin at age 62 if the recipient retires early.

The amount of monthly Social Security benefits a recipient receives depends on his age at retirement and the wages he earned during his highest paid years of employment, explains the Social Security Administration. A person who retires earlier than his full retirement age may have his monthly benefits reduced 5/9ths of 1 percent for every month before normal retirement age. However, Social Security recipients who delay retirement may receive a delayed retirement credit from 3 to 8 percent, based on birth year.