Planning for your retirement can seem like a daunting task but it does not necessarily have to be that way, all you need is a good understanding of how the Social Security program works to be able to maximize the amount you receive in benefits once you do actually retire. Now, it is important to know that your lifetime earnings are the primary determining factor in how much you will receive in benefits from the Social Security Administration (SSA). There is, however, some fine print worth understanding when making your claim as it could mean the difference between a reduction or an increase to your benefit.
In 2025, the maximum benefit amount paid out by the SSA totalled to around $5,108. This figure is set to increase in 2026 once the 2.8% COLA increase comes into effect. The question that remains is: how do I become eligible for the maximum benefit amount? Here is what you need to know.
How are Social Security benefits calculated?
In order to claim Social Security benefits once you retire, you will need have earned a minimum of forty work credits. Work credits are earned by contributing a portion of your earnings towards the dedicated Social Security payroll tax throughout your working career. Each month, you will contribute 6.2% of your earnings towards the payroll tax and your employer will typically match this, bringing your total contribution up to 12.4%.
In order to claim benefits, you will need a minimum of forty work credits, however, you can only earn a maximum of four work credits each year. Currently, one work credit is valued at $1,810, however, this will be increasing to $1,890 in 2026. In short, you will need to have worked for at least 10 years (earning the maximum four credits per year) in order to become eligible for Social Security retiree benefits. This is the bare minimum of requirements for your claim.
The SSA takes your 35 highest earning years into consideration when calculating your benefits. This means that the more you had earned in your career, the higher your benefits will be. This is why it is recommended to have worked for at minimum of 35 years, otherwise your benefit calculation will have some years with an income of $0 in it, which will then bring down your benefit.
The age at which you begin claiming also plays an important role in the benefit calculation. This is because of the policy of the full retirement age. The full retirement age is currently 66-67, however, Social Security can be claimed from aged 62. If you claim early, however, you will be locked into a reduced benefit of up to 30% depending on how many months remain until you reach retirement age.
Alternatively, if you delay claiming until you are 70, which is past retirement age, you could receive up to 124% of the benefit you would have received at retirement age. This is because the SSA increases your benefit by 8% for every year that you delay your retirement until you are 70.
How to earn the maximum benefit?
In 2025, the maximum benefit paid by the SSA at retirement age amounts to $4,018, while the maximum benefit for delayed retirement comes out at $5,108. Both of these figures will increase in 2026 once the 2.8% COLA boost comes into effect. As such, the absolute highest benefit amount that will be paid by the SSA in 2026 will be $5,251. So what qualifies a beneficiary for this amount?
In order to claim the the hefty $5,251 benefit check in 2026, the beneficiary will need to meet all of the following requirements:
- Work for a minimum of 35 years
- Earn an income that is equivalent to or higher than the wage cap for each respective year of those 35 years
- Delay your retirement until age 70 so as to earn delayed retirement credits.
Meeting all three requirements may not be feasible for everyone, but having even just one of these requirements met when making your claim could still boost your benefit check by a little.