It’s important to note that this “maximum” benefit is for individuals who file at their full retirement age (FRA) in 2020. If you file earlier your benefit will be less than the maximum. If you file later your benefit will be more than the maximum.
Here’s how this breaks down for 2020:
- If you file for benefits at 62, the maximum benefit is $2,265.
- If you file for benefits at age 70, the maximum benefit is $3,790.
To receive the max Social Security benefit you need to have real earnings that were at or above the maximum taxable earnings for at least 35 years.