35 years
Social Security benefits are based on your lifetime earnings. Your actual earnings are adjusted or “indexed” to account for changes in average wages since the year the earnings were received. Then Social Security calculates your average indexed monthly earnings during the 35 years in which you earned the most.

How much does the average person pay into Social Security?

Workers and employers pay for Social Security. Workers pay 6.2 percent of their earnings up to a cap, which is $127,200 a year in 2017. (The cap on taxable earnings usually rises each year with average wages.) Employers pay a matching amount for a combined contribution of 12.4 percent of earnings.

Can you get retroactive Social Security benefits if you are at full retirement age?

Social Security does not allow what it calls “retroactivity” if you claim benefits before then. If you are at full retirement age, which varies according to the year you were born, Social Security will pay benefits starting that month.

When do you get back Social Security benefits after Fra?

If you file six months or more past full retirement age, you can get up to six months in back benefits. For example, if you claim benefits four months after you reach FRA, you can get payments for those four months.

Do you have to pay back your Social Security benefits?

If money was withheld from your Social Security checks to pay for Medicare premiums or taxes, you will also need to pay that amount back in order to withdraw your application. If you have been receiving Social Security payments for over a year, you are no longer eligible to pay back your benefit and start over.

How are the benefits of Social Security calculated?

The sum of those three figures is your PIA, also known as your “full retirement benefit.” The sliding scale is designed to weight the benefit to help low-wage earners, who need retirement money the most. Finally, Social Security plugs in the age at which you claim benefits.