Is My Benefit Amount Correct?

Oct 15 2017 - 8:21am

I am 71 a us resident and I've worked 10 years and earned my 40 credits to collect social security.
I received my approval and was told my benefits per month will be 425.00 less the medicare of 130.00 per month.
Is this right? I was expecting at least 1000.00 a month. Can you give advice.
Thanks

Hi,

Social Security has a high rate of accuracy on benefit calculations, so your rate is probably correct. I can't say for sure, though, without having access to your full earnings record. To learn more about how Social Security retirement benefits are calculated, refer to this Social Security publication: https://www.ssa.gov/pubs/EN-05-10070.pdf.

Best, Jerry