Ask Larry

Can I Discontinue My Benefits And Wait Till Age 70?

Larry I am 66 years old currently collecting my social security once I reached my FRA. I work full time still. Can I discontinue my benefits and wait till age 70 to increase my benefits or will it not make a difference at this time

Hi,

Yes, you can voluntarily suspend your benefits anytime from full retirement age (FRA) until age 70. If you do so, your subsequent benefit rate will be increased by 2/3rds of 1% for each month that you choose to suspend your benefits (https://www.ssa.gov/planners/retire/delayret.html).

Best, Jerry

Posted: 
Oct 11 2019 - 4:53pm
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