Hi Larry,

I just turned 65 in June of this year. I started my S.S. Benefit in Feb. of this year. If my finances allow, I want to WITHDRAW MY BENEFIT IN JANUARY OF 2017, WHICH WILL BE THE 12TH MONTH I HAVE RECEIVED BENEFITS. I WAS TOLD, IF I PAY THE Benefit amount BACK WITHIN 60 days of the end of the 12 months, my Lifetime Benefit will not be affected. IS THIS CORRECT??? IF I WAIT UNTIL AGE 70 TO COLLECT MY BENEFIT I WILL RECEIVE 800-1000 DOLLARS MORE PER MONTH. WHAT IS THE BEST THING TO DO??? THANK-YOU KINDLY!

Hi, My understanding is that you only have 1 year and not a day more to formally withdrawal your application for retirement benefits. You'll need to repay what you received gross of any Medicare Part B premiums withheld and gross of any withholdings for taxes. So if you repay two months before the 12 months are up, you should be ok. My best, Larry