Delayed Retirement Credits

Can Anyone Explain Why My Wife's Benefit Amount For December Is So Much Lower Than Her Benefit Amount For January?

Spouse received her Award letter yesterday with first payment scheduled for receipt in January 2021 for December 2020 benefit. This will be her first payment on her Own Record as she has been receiving a Spousal Benefit. The last claim for Spousal is November 2020 and expected receipt on December 20,2020. (Delayed Credits have been accruing)
The letter states the following: "You will receive $2,683.00 for December 2020. After that you will receive $2,853.00 on or about the fourth Wednesday of each month."

Do I Have To Continue Working Between My FRA And Age 70 To Be Eligible For Delayed Retirement Credits?

Do I have to continue working between my FRA and my 70 DOB to be eligible for Delayed Retirement Credits? Thanks!


No. You can accrue delayed retirement credits (DRC) from full retirement age (FRA) until age 70 whether you are working during that time or not.

Best, Jerry

If I Start My Benefits Effective With The Month I Reach Age 70 Will My First Payment Include Credit For Current Year DRCs?

If I turn 70 in December 2021and apply for benefits to start that month with my first check deposited January 2022 ....will I get credit for all my 2021 DRC's in that January 2022 check. ...or because of IRS computers will it be January 2023 before I see the bump for the 2021 DRC's...(with an accompanying retroactive amount)?....alternatively. ..if I wait just one month after I turn 70 to apply....thus giving up one month's check....will the 2021 DRC's be applied right away for the rest of the eleven 2022 checks?


Is It Correct That My Benefit Amount Would Be The Same If I Started Drawing Next January Or April?

I am planning to file for SS benefits next year. I will be turning 68 in April. When I checked the SSA website for an estimate of my benefits, there was no difference in the amount it calculated whether I started my claim in January or waited until my birthday month. Is that correct?


If I Don't Take SS At Age 66 How Much Does It Grow?

if i dont take ss at 66 how much does it grow ?i might wait another year , im getting my pension


Delayed retirement credits (DRC) add 2/3rds of 1% to a person's benefit rate for each month that they delay collecting Social Security retirement benefits between full retirement age (FRA) and age 70. That amounts to an increase of 8% for each year they delay starting benefits.

Would My Check For December 2020 Include Both DRCs And The COLA?

Hi Larry.

My question is about when delayed retirement credits and cost of living adjustments are credited. Based largely on information in your book, "Get Whats Yours" I had decided to wait until age 70 to apply for my benefit. That will be in May, 2021.

Recently I am considering applying a little early, in December of 2020. As I understand it my December benefit would be paid in January, 2021. Would that January check include both the accrued delayed retirement credits and cost of living adjustment through 2020?

Thank you.


Is What Social Security Told Us About My Wife's Extra Credits Correct?

My wife reached her full retirement age (66) last November. We went to our local security office last week and didn't have a very helpful person. My wife signed up for social security to start in April this year with the first check coming in May. We expected to receive the amount earned at 66 plus 5 months of extended credit for waiting 5 months past her retirement age. The social security representative said my wife will not receive the payment for the additional 5 months until next year, just the amount due at 66. I had never heard that before is it correct? Thank you.

How Much Of A Timeline Do I Have To Suspend My Benefits?

Hi Larry, I've been receiving SSDI for a decade & was just converted to Reg. benefits at my FRA of 66 in 12/2019. I'm an RN who often worked limited hours while disabled - as per SSA guidelines. I'm considering suspending benefits until 70 only if there's any hope for improvement per the reasoning in my next paragraph....otherwise, it's not worth it for me. How much of a timeline do I have to suspend benefits and reimburse the SSA after turning 66 two mos ago? I've read conflicting reports of 6 mos, 12 mos, etc. ... but here's the bigger problem: