Delayed Retirement Credits

I am 65 and 5 months. My FRA is 66. No one else can get benefits on my account. If I filed right now my benefit would be $1572.00 per month. I am not working right now but I am looking for work. I have debt that I am anxious to pay off . I am living on a $1200. per month pension right now. My concerns are if I file now, pay off my a debt and (being at FRA by then) can I suspend my benefits? If I do that will my future benefit increase by 8% per year?

Hi there! I will turn 66 (FRA) in November of 2018. I plan to work until July 1, 2019. If I postpone collecting Social Security benefits until age 70, will my benefits increase during the 4 year period from age 66 to 70, even though I have stopped working and am not paying into Social Security during those 4 years? Thanks!

Hi,

I postponed retiring until age 67 in 8/16 - SS incorrectly calculated I was to received benefits based on the age of 66 1/2. When I finally got the age issue straighten out I was told I would receive retro benefits for the delayed retirement.
Today I am being told I am owed retro benefits from January 2017 instead of back to Aug 2016 when they made the wrong age calculation. What can I do to get the retro benefit amount for 2016 paid to me?

Hi,

I have a question about delayed retirement credits (DRCs), and am wondering if you can provide a precise, crystal-clear answer. It's my understanding that DRCs are calculated at the end of each calendar year, not in mid-year. So if I file to begin payments after age 66 (my FRA) and before age 70, my initial benefit amount will include DRCs for the month when I turn 66 through the end of the previous year prior to the effective date of initial payment.

This is related to my previous question, So Which Is Right, Jerry answered on Jun 17 2017 - 7:32am
First of all, thank you for very prompt reply.
But that was not kind of confusion on my side that Jerry suggested.
This is the situation:
I called SSA 06/15/2017, and gave to a SSA representative I was talking to this information:
- I am turning 69 this year. My Social Security benefits were initiated and immediately suspended as of November 2014, so I will receive benefit with DRC when I start receiving them.

Dear Larry,
On your site you state that widow's benefits do include the worker's delayed retirement credits, for example on this page:
http://maximizemysocialsecurity.com/will-my-wife-be-able-collect-larger-...

Larry: I will turn 69 on 8/10/17. I plan to file for my Social Security using August 1, 2017 as my starting month & I will not receive my first check until Sept. 2017. Since my birthday is 8/10/17 which is "after" 8/01/17, will I still receive a full 36 months of DRC's? Also, based on the information from your website, when I file to start 8/01/17, I calculate that I will receive 28 of the 36 DRC's with the remaining 8 DRC's to be paid to me in Jan. 2018.

I turned 66 in March, 2017, and began receiving my benefits at that time. I'm still working and I'm considering suspending my benefits so that I can receive the delayed credit when I reach age 70. Since I was already full retirement age when I started collecting, do I stil need to request the suspension within 12 months of receiving my first check, or can I suspend at any time after that? Also, my understanding is that I would need to repay any benefits I receive in the interim. Is that correct, and how much time would I be allowed to repay?

I am 69, born 12/31/47, female, never married. I successfully applied for file and suspend to collect DRC on April 26 2016. In October 2016 I unexpectedly left my job and unable to collect unemployment ins. I am still unemployed but seeking employment. My savings are being affected and want to collect my DRC. I am very concerned on exactly what to say to SS office that I want to collect ideally 13 or 14 months (the maximum I have so far, altho I could manage with less) worth of DRC.

I'm 66 yr, employed and chose to collect half of my husband's social security allowing mine to increase until age 70. Will my personal amount at age 70 increase as I'm still employed or Is it based on amount on date I filed for half of spouses

Hi,