Can Donald Trump Collect Social Security Benefits if He Wins the Republican Nomination?
Written by
David Nadelle
Edited by
Nicholas Morine
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Keeping track of where former President Donald Trump and current President Joe Biden stand on key issues can be a full-time job in and of itself. However, when it comes to the Social Security program, both men have pledged not to touch it leading up to the presidential election in November 2024.
According to CNBC, Biden stated that the program is “off the books” during his most recent State of the Union address. In January, Trump said, “Under no circumstances should Republicans vote to cut a single penny from Medicare or Social Security to help pay for Joe Biden’s reckless spending spree.”
We know where he stands on Social Security in the near-future, but can Trump himself collect benefits if he wins the Republican nomination? While the Social Security Administration claims that about 3.5% of the over-60 population never receives benefits, Trump is certainly eligible to start — even though he has forgone them to date.
As GOBankingRates previously reported, while Trump has collected significant pension benefits since leaving office, his income tax filings between 2015 and 2020 showed that he didn’t claim any Social Security income for those years.
If Donald Trump were to win the Republican nomination (and subsequently become president), he would be eligible to collect Social Security benefits just like any of the almost 70 million Americans who rely on Social Security for monthly income when they retire or become disabled.
One can assume that when Trump decides to claim Social Security, he would max out his benefit as a result of his hefty annual earnings throughout his lifetime. In 2023, the maximum amount for someone retiring at the age of 70 would be $4,555 per month, or $54,660 for the year.
Social Security benefits are available to individuals who have contributed to the Social Security system through payroll taxes and have reached the required age for eligibility, typically around 62 years old. The rules for Social Security benefits are the same for all eligible individuals.
Whether or not someone chooses to collect Social Security benefits depends on their individual financial situation, goals, and needs. The decision to claim or defer Social Security benefits would ultimately be up to Trump, based on his personal circumstances and financial considerations.
While Donald Trump hasn’t dipped into his Social Security benefits yet, we know that President Biden has. Joe and Jill Biden collected a combined $58,465 in Social Security benefits in 2022.
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