Millions of retirees could lose their Social Security benefits if they do not meet these requirements in April 2025

The Social Security Administration (SSA) has confirmed that only those who meet specific eligibility requirements will receive payments beginning in April 2025. While these monthly benefits provide crucial financial support to millions of Americans, the qualifications are strict, and not everyone who applies will be approved.

For those who don’t meet the required criteria, there may be alternative forms of support available, but careful planning is key.

Understanding how to increase the value of your future Social Security benefits is an essential part of preparing for retirement. The most straightforward way to boost your benefit amount is by earning a higher income while working.

Since Social Security payments are calculated based on your highest-earning 35 years, those who consistently earn more stand to receive larger monthly checks. While earning more may not be possible for everyone, there are still strategies individuals can consider to help improve their benefit amounts.

One approach is to delay collecting Social Security for as long as possible. While you are allowed to start receiving benefits at age 62, this comes with a significant reduction in your monthly payment. The longer you wait-up to age 70-the higher your benefit will be.

Delaying retirement by even a few years can lead to a noticeable difference in what you receive each month. Those who choose to retire early will need to understand that their benefits will be permanently reduced due to early retirement penalties, and those reductions are based on the age you begin collecting, not on when you stop working.

Eligibility criteria

The eligibility rules for receiving Social Security are clear. A person must have worked for at least 10 years, earning a minimum of 40 credits. You must also be at least 62 years old to begin receiving retirement payments.

However, working for a full 35 years or more provides the best chance of receiving the maximum benefit available. The SSA calculates benefits using the average of your top 35 earning years. If you have fewer than 35 years of work, the SSA fills in the gaps with zeros, which can lower your total benefit.

For those who are preparing for retirement or are already nearing the minimum age to qualify, it’s important to take stock of your income history and understand how your benefits will be calculated.

Avoiding unnecessary tax penalties on your Social Security income can also help you make the most of what you receive. Being proactive and informed is the best way to ensure that you’ll be financially secure during retirement.