Who Pays for Social Security?

• All workers in the United States pay for the social security system. Employees have pay deducted from their paychecks by employers; it goes toward social security. Self-employed workers also send a portion of their income to the government to pay into the social security system.
  
  

How do I Qualify for Retirement Benefits?

• Workers in the U.S. must pay into the social security system over the course of their working lives to be eligible for retirement benefits. According to the Social Security Administration (SSA), when you work and pay social security taxes, you earn credits toward retirement benefit eligibility. If you were born after 1928, you must accrue 40 credits over your working life to qualify, which amounts to 10 years of work.
  
  

How Large Will my Benefit Be?

• The amount of income you will receive from Social Security in retirement depends on two things: the amount of money you earned during your working life, and when you decide to start receiving benefits. The more money you earn, the larger your social security benefits will tend to be. In addition, you will receive larger income payments during retirement if you wait longer to receive payments. According to the SSA, age 66 is considered "full retirement age" for those born between 1943 and 1954; once you reach full retirement age you can receive your full social security benefits.
  
  

When Can I Start Receiving Retirement Benefits?

• Workers must reach age 62 before they can start receiving social security retirement benefits. The SSA states that if you start taking retirement benefits at age 62, you will receive about 25 percent less income than you would if you waited until your full retirement age.
  
  

Do I Have to Pay Taxes on Social Security Income?

• Even though social security income is paid using tax money, some retirees have to pay income taxes on social security benefits. The SSA states that single taxpayers may face income taxes on 50 percent of their social security income if they earn between $25,000 and $34,000 a year.
  
  

How Do I Qualify for Disability Benefits and Survivor Benefits?

• The SSA provides income benefits to U.S. workers who become disabled. The SSA says that to qualify for Social Security disability benefits, you must have a medical condition that prevents you from working and is expected to last at least a year; you must meet certain minimum work requirements based on your age. The SSA also allows grants benefits to survivors of deceased workers who have worked for at least 10 years. The SSA states that survivor benefits can pay income to certain relations of the deceased, such as widows, widowers, dependent parents and unmarried children.