Though the social security system has had its problems and is not perfect, it will remain as the main income source for most American workers when they retire. With that in mind, people have many questions about social security and should know the answers to their questions.
Does a person have to have a work history to receive social security benefits?
Everyone knows that when they work and receive their paycheck, taxes are taken out. One of those taxes that is taken out from every paycheck are Social Security taxes. As you work over the years and these taxes are taken out, you earn credits that will get you closer and closer to qualifying for social security benefits when you retire. Many people have wondered if a person has had to work during their life to receive social security retirement benefits and the answer is simply yes. You need to have worked at some point in your life and for a certain amount of time to earn enough credits so that you can receive social security retirement benefits. There are many questions that people have about social security retirement benefits such as; What age do I have to be to collect social security?, How much money will I get with social security? How long does a person need to work to be eligible for social security? The last question is probably the most commonly asked question and we will answer it for you in the next paragraph.
How Long Does A Person Need To Work To Be Eligible For Social Security?
One of the most commonly questions that people ask is "How long does a person need to work to be eligible for social security?" For people who were born in the year 1929 or later, you will need 40 credits to qualify for social security retirement benefits, most of us will fall into this category. It will take an individual roughly 10 years to earn 40 credits. The 10 year work history does not have to be continuous, it can be spread out over a persons lifetime. No social security retirement benefits will be paid unless the minimum amount of 40 credits is earned.
A few other things to remember about Social Security retirement benefits
For individuals who were born before the year 1938, the full retirement age is 65. For those born after 1938 (which is most of the population) the full retirement age is 67. Please note though that you can retire at the age of 62 if you wish with reduced benefits. Many people receive their social security at age 62, continue to work and have social security taken out of their taxes, then at their full retirement age stop working and have their benefits recalculated.