Retirement benefits compensation claim provides a lifetime monthly income for qualified workers once they have reached their full retirement age. Retirement age ranges from sixty-five to sixty-seven depending on the year you were born. The amount of retirement benefits compensation claim you get depends on your income while you were working.

    Workers do not automatically qualify for retirement benefits compensation claim. Instead, you must have worked and paid at least a minimum level of Social Security taxes for at least forty quarters. These quarters do not have to be consecutive. Once you have worked and paid taxes for the required forty quarters, you are fully qualified to file retirement benefits compensation claim.

    Deciding when to retire is a vital and personal decision. It is a good idea to contact Social Security in advance regardless of the age you choose to retire to see which month is best to file retirement benefits compensation claim. In some instance, it may be an advantage to apply for retirement benefits compensation claim three months before the date you want your benefits to start. Moreover, widows and widowers can begin receiving Social Security benefits at age sixty, or at age fifty if they are disabled. And they can take a reduced benefit on one record and later switch to a full benefit on the other record.

    You can file for retirement benefits compensation claim as early as age sixty-two but if you retire before your full retirement age, you benefits will be permanently reduced based on your age. Most likely, you are retiring early because you want to. However, you may need to retire early due to factors beyond your control. Perhaps you are sick or injured or maybe you have been terminated from your job. However, no matter what your full retirement age is, you still will be able to retire at age sixty-two and be qualified for retirement benefits compensation claim if you have earned enough Social Security credits, but your monthly benefits will be permanently reduced.

    You may also opt to keep on working even beyond your full retirement age. If you do these you can increase your future Social Security benefits. Each additional year you work adds another year of earnings to your Social Security record. Thus, higher lifetime earnings may mean higher benefits when you retire. In addition, your retirement benefits compensation claim will automatically increase by a certain percentage from the time you reach your full retirement age until you start receiving your benefits or until you reach the age of seventy.