Delayed Retirement Credits

What is the best month to file to get the most DRC, delayed retirement credits, until the SSA updates their system to give full credits? Is it December or January? If I file three months ahead, according to the SSA, to get a January payment, I would need to file in October. Also, according to the SSA, the January payment is not payable until the following month. YOu must have lived the entire month to collect.

Hi,

Delay of Delayed Retirement Credits
I understand that for those starting SS benefits between PIA and age 70, DRCs are only initially applied as of the end of the previous year (unless benefits start in January), and full DRCs apply starting the following January. Given that it is believed SSA only does the DRC recalculation every TWO years, does anyone know if the next recalculation is due in January of 2019, or January of 2020?
Thanks!

Hi,

I will be 69 in October, if I apply for retirement benefits now the six Months after my 68th birthday count toward my benefits or I should apply for retroactive
Months?

Hi,

Regarding delayed retirement credits; you indicated the SSA does not update they payments for up to 24 months regarding delayed retirement credits. If you make an initial application including the delayed retirement credits, what amount does the SSA pay for retirement until the DRC is updated and paid? Is it the PIA, or primary insurance amount which is payable until the the DRC is updated? As I understand it, you would only receive the PIA or full retirement age benefit until the DRC is calculated.

Donald inquired as to how DRCs are applied on June 9. I read the link to POMS and confused myself.

If I wait to claim retirement benefits until age 70 do I forfeit COLAs from FRA until 70? I am receiving survivor benefits now. I have not claimed retirement benefits yet. Thanks!

Hi,

Thank you for the help you give to the public...I suspended my monthly SS retirement ($1646.60) beginning 03/2015 and resumed beginning 06/2017; no COLA for 2015 and 0.3% for 2016. Upon resumption of benefits my adjusted monthly benefit after COLA and 22 months of suspension was computed by the SSA as $1893.70. My concern is that the method/procedure used by the SSA to arrive at this number was incorrect. According to my computations, the monthly amount should have been $1902.52.

I called the SSA regarding applying for SSA retirement benefits, and I was informed by the representative that if I filed after my full retiement age (fra), 66 plus 2 months, that if I wanted to increase my monthly benefit by filing after my FRA, that I would need to wait a full year to get any increase in monthly benefits. It is my understanding your montly benefit would increase each MONTH that you wait past your FRA; and that I need not wait the full 12 months as I was informed by SSA. Is the information given out by SSA staff correct?

My husband passed in 2011 and was collecting SS disability, when I turned 62 I started getting ss widows benefits. I stopped working at that time. Am I getting delayed credits on my own SS by not claiming my own until age 70?

Hi,

I'm sorry for your loss.

Yes, as long as you haven't filed for retirement benefits on your own record and you have at least 40 quarters of Social Security coverage then you can accrue delayed retirement credits on your own record from your full retirement age until age 70.

Best, Jerry

I'm 62 and 10 months old. If I opt to take SSA RI benefits now because I cannot find work in my area, can I then voluntarily suspend benefits at FRA (66 and 2 mos.) and earn delayed retirement credits until I reach age 70? As a tangential question, if SSA has not yet correctly computed my w-2 wages for 2017 (they have me earning $5,580 when I actually earned $57,000), if they correct that upwards by September 2018, will SSA adjust my monthly benefit to reflect that? Thanks.

Hi,

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?