It's Getting Harder to Qualify for Social Security in Retirement. Here's Why

Core Insights - Social Security is a crucial income source for millions of retirees, essential for covering basic expenses such as housing, transportation, healthcare, and food [1] - Eligibility for Social Security benefits requires individuals to earn work credits through employment and contributions to the system [2][5] Changes to Social Security - Significant changes to Social Security work credits are set to take effect in 2026, including a higher threshold for earning work credits, which is vital for retirement benefits [3][4] - The Social Security Administration announced a 2.8% cost-of-living adjustment, a higher earnings-test limit, and an increased wage cap [4] Work Credits Requirements - To qualify for Social Security retirement benefits, individuals must accumulate a total of 40 work credits, which typically requires at least 10 years of work [5][7] - In 2026, the value of one work credit will increase to $1,890, meaning individuals must earn a minimum of $7,560 to obtain the maximum four work credits for that year [6][7] Implications for Part-Time Workers - The changes in work credit value and requirements are particularly relevant for part-time workers, who may need to adjust their earnings strategies to meet the new thresholds [6][8]