Social Security Report

Q & A

I’ve only been working for a few years, and I’m wondering how I earn Social Security benefits. What are credits and how many do I need to qualify for benefits?

Answer: The Social Security Administration uses your total yearly earnings to calculate your Social Security credits. “Credits” are the units used to measure whether you qualify for Social Security benefits. The amount needed for a credit in 2015 is $1,220. You can earn a maximum of four credits for any year. The amount needed to earn one credit increases automatically each year when average wages increase. You must earn a certain number of credits to qualify for Social Security benefits. The number of credits you need depends on your age when you apply and the type of benefit for which you are applying. No one needs more than 40 credits for any Social Security benefit. You can learn more about earning credits by reading How You Earn Credits at www.socialsecurity.gov/pubs​.

Source: Ohio State Bar Association, 8/24/2015

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