Analysis indicates that the maximum monthly payment set by the U.S. Social Security Administration for 62-year-old recipients this year is $2,969. In comparison, recipients at full retirement age (67) could receive up to $4,152, while those who wait until age 70 could receive up to $5,181. To qualify for these maximum amounts, an individual must have worked for at least 35 years, earned above-average income during those years, and reached the maximum taxable earnings limit each year (which is $184,500 this year). Currently, the average monthly payment for 62-year-old recipients is approximately $1,460.