I am 67.5 years old. Less than a month ago I went to file at the SSA. The representative asked me "where have you been?" ... and immediately proceeded with the application to provide me with retroactive benefits which I did not want. I wanted to take advantage of the DRCs. She said I haven't worked since 62.5 y.o. Does that mean the $10.00 or so monthly DRC increase since I stopped working at 62.5 would not be as beneficial as receiving retroactive payment? Very confusing. Should I withdraw or suspend my application at this time? My husband has a town pension and less than 40 credits. I also have an adult disabled child. Thank you.

Hi,

Regardless of when you stopped working your Social Security retirement benefit rate would increase by 2/3rds of 1% per month for each month that you defer taking benefits from full retirement age (FRA) until age 70. You aren't required to take retroactive payments, so if that's what happened you could either a) ask Social Security to change your month of benefit entitlement, or b) withdraw your application and refile at a later date. You could suspend your benefits prospectively instead, but you would then not receive any delayed retirement credits for any months for which you were paid benefits.

Before deciding, you may want to strongly consider using our maximization software in order to determine your best strategy, particularly due to the fact that it sounds like you have a disabled child who may be impacted by your decision.

Best, Jerry