Will the SS offer me six months of retroactive benefits when file for my retirement benefit.? Six months will amount to be half of the 6-2/3% discount per year to my retirement benefit. The reason I ask is that I live outside the country and I am not affected by US inflation because I spend all my money in the Philippines where I retired. What does affect me is the US dollar to Philippine Exchange rate and inflation in the Philippines. If you understand "Buy the rumor and sell the fact" and how it works, I expect the US dollar that has appreciated due to a long history of anticipated Fed rate hikes and the Trump anomaly in anticipation of his spending, and now the markets are starting to see reality. So, I expect the dollar to fall more than the 3-1/3% discount on my benefits and I not expect dollar strength recovery within the next couple of years. In fact I am thinking the dollar strength would need to recover 3-1/3% more for me to lose out in this decision. So, I am thinking it would be good to grab a chunk of money now before the dollar strength falls by more than 3-1/3% and not recover. Also, getting money from the past knowing the strength of the dollar today seems like a sure thing. Why would the SSA allow a sure bet?
Social Security benefits can only be paid retroactively if the benefits are unreduced. The 6-2/3% annual rate of reduction to which you refer applies to reduced retirement benefits payable before full retirement age, and no retroactivity is permitted for reduced benefits.