Ask Larry

Delayed Retirement Credits

Does The 8% Annual Increase From Delayed Retirement Credits Only Apply If I Continue Working?

Hi Larry:
On October 2022, I reached my FRA, and retired this past January 2023, I am no longer working and earning a salary.
Does the annual 8% increase on the earn delayed retirement credits, only apply if I continue working and earning a salary until I reach age 70, or is it, if I simply wait to apply for ss benefits until it I reach age of 70?

Monday, March 6, 2023 - 18:39

When Can I Expect To Get The Increase In By Benefits Due To Delayed Retirement Credits?


I reached full retirement age on January 2022 and retired on August 2022. I earned seven month's of delayed retirement credits. I started getting social security benefits from September 2022. I expected an increase in my social security benefits due to delayed retirement credits starting from for benefits for January 2023. But it did not happen.

When can I expect to get the increase in my benefits due to delayed retirement credits? Does it help to expedite the process by calling SSA?



Wednesday, February 22, 2023 - 15:31

Why Didn't I Get The Rate Increase I Was Promised?

I started collecting social security in October. I was told I would collect for the last 3 months the amount I would have collected in January of 2022. Then it would be adjusted in 2023 for Cola and for the 9 months I waited. I was told I would also get the amount for the three months in 2022 that I got based on January 2022. I am past my full retirement age when I started, but as of February I have the January 2022 amount plus the cola, nothing for waiting the 9 months ( I was told it’s 8% yearly)

Saturday, February 4, 2023 - 17:49

Will My Payment In February Only Include A Portion Of My DRC Increase?

Hi Dr.
I’m going to be 70 in January 2023. I suspended my benefit on my 66 th birthday. I believe Social Security will automatically resume payments after my birthday in January
From what I read, Will my payment in February include only 24% increase DRC with additional coming sometime after next January?
Thank you, John

Sunday, November 27, 2022 - 15:31

Would You Know When The Next Recalculation Will Occur?

Hi Larry--I am waiting to receive delayed retirement credits per the rule I am aware of where the credits show up in January after the year they are earned. I reached my NRA of 66 in November of 2020 and began benefits a year later at age 67 (12 months of delayed credits due). When I began receiving benefits, I was credited for the 2 months of delay earned in late 2020 and would be due the remaining 10 months of delayed credits beginning in January of 2022. However, to date, I have not been credited for these additional amounts.

Sunday, October 30, 2022 - 12:13

Is It Correct That I Won't Receive My Full Age 70 Rate Until January 2023?

I filed for my retirement benefits yesterday by phone to start in September at age 70. The representative told me that my initial benefit amount would be the same amount as if I had filed to start in January 2022. The representative indicated that my full age 70 benefits would then start in January 2023. This is contrary to what I have read in this column that I should receive my full age 70 benefit as of my first check. Is this yet another change due to Covid-19? Thank you

Saturday, July 16, 2022 - 11:49
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