Is there a minimum Social Security payout?

[angstlessk]

Just wondering because of friend?

[Ptah]

1. $1.00

Minimum Monthly Social Security Benefit
There is no minimum monthly Social Security retirement benefit, but for administrative reasons,
the SSA will not pay a benefit of less than $1.

http://answers.usa.gov/system/templates/selfservice/USAGov/#!portal/1012/article/4236/Social-Security-Maximum-and-Minimum-Retirement-Benefit

[tularetom]

2. Not sure if could any more minimum than the one I'm getting

I worked for 20 years for a public agency that was given the opportunity to opt out of SS in the late 70's and did so. Consequently I did not pay into SS for over half of my working life. And my monthly benefit check reflects that.

[yeoman6987]

4. I have a friend who at 70

is going to collect 900 dollars. He is waiting until then so he gets that much. I am stunned. He obviously didn't make much in his working years. I just saw mine and I will get 1610 a month and 2080 if I wait until 70. I never realized how much of a difference it makes when you make a decent wage.

[Yo_Mama]

3. No, but there is an SSI minimum

http://en.wikipedia.org/wiki/Supplemental_Security_Income

It depends on income and resources, but those 65 and older qualify.

[rickford66]

5. 62 and older

62 for reduced bennies. 66 for full bennies. It increases if you wait longer. 65 is for Madicare. The 66 age is for someone qualifying right now. It changes for future retirees.

[Yo_Mama]

6. No, that's SS rather than SSI

You can qualify for SSI on a number of grounds, including disability/blindness, or just by being 65.

SSI and SS are two different things. And DI (SS disability is a third).

There is no minimum SS benefit, but if you are 65 and older and don't have liquid resources ($2,000 max for individual), you can qualify for SSI and get your SS income boosted up that way. It's a complicated equation. But then once an older person qualifies for SSI, they also qualify for Medicaid, which pays their Medicare premiums and copays, and food stamps, which really help out a lot.