Delayed Retirement Credits

Can I File For Delayed Retirement Credits Retroactively?

I worked for railroad for 15 yrs and also had Social Security benefits. I retired and started drawing combined benefits at age 62. I have continued working part time since then (presently age 85) and am told I can now request delayed retirement credits for years between 65 and 70 yrs of age based on age reduction at start of benefits. Is this true? I have Social Security work base of more than 40 yrs. now

Hi,

Is This Correct?

I turned 68 in July 2016. If I file for benefits in October 2016, my benefit will only include my DRC through December 2015 (112%), The additional 10 months of DRC (Jan 2016 - October 2016) will be paid, along with my benefit calculated including ALL my DRC (July 2014 - October 2016 (118%).

Is this correct?

thx for your help

Hi,

How Can I Get My Correct Delayed Retirement Credits?

Larry: I am 68 as of Aug. 2016 I waited the extra year to increase my benefit by the 8%. My benefit was $2521 at age 66 so I figured I would get the 8% increase when I applied at 67 a year later but from what I can tell that was not the case. My benefit came back $2521. They said my monthly benefit was raised starting Oct. 2016 with credit for being at least full retirement age and did not receive a retirement benefit because of my work and earnings.

Do I Have To Keep Working In Order To Receive Delayed Retirement Credits?

Let's say my SS full retirement age is 66. Do I have to still be working between age 66 and 70 in order to receive the 8%/year increase in benefits through Delayed Retirement Credits? My thought is that I don't have to be working while delaying and that the mere delay of the benefits (e.g., potentially less time to collect benefits) is what would make it actuarially equivalent. I posed this to the SSA in verbally and via email. Verbally I was told I must be working during age 66 -70 to get the increase.

Why Doesn't My Record Show A Higher Benefit At Age 68 vs. Age 67 & 1/2?

IN AUGUST 2016, I TURNED 68 YRS. OLD. I HAVE NOT APPLIED FOR SOCIAL SECURITY. HOWEVER, I ESTABLISHED AN ON-LINE SOCIAL SECURITY ACCOUNT IN 2015. IN FEB. 2016 AT AGE 67 & 6-MONTHS, I PRINTED OUT AN EARNINGS BENEFIT STATEMENT. SIX MONTHS LATER IN AUGUST 2016 AT AGE 68, I PRINTED OUT ANOTHER BENEFIT STATEMENT & THE BENEFIT WAS THE SAME AMOUNT AT AGE 68 AS IT WAS AT AGE 67 & 6-MONTHS. I UNDERSTAND THAT AFTER AGE 66, I AM SUPPOSED TO RECEIVE A DELAYED CREDIT OF 8% PER YEAR.

Will The Increase I Receive From Delayed Retirement Credits Reduce My Wife's Benefit?

After my wife and I reached FRA but before the new law took effect, I applied and suspended my benefits while my wife started receiving here spousal benefits. At 69 I retired from my job and "unsuspended" my benefits as they called it. I've realized we could get by a year without benefits and wish I hadn't started them. If I suspend again now it sounds like my wife would lose her benefits as long as mine were suspended. We might make that work.

When Will I Receive My Delayed Retirement Credits?

I turned 68 in July 2015. I filed for S.S. I had deferred two years of S.S. When I went to start my benefits the S.S office gave me one year of deferred increase. They said I had to wait until Jan. 2016 to get the deferred benefits of the second year. It is now August 2016 and still no increase. I have made two appointment and both times they said I had the extra year coming and did the paper work to put it in motion again. But nothing. I don't know where to turn.

Hi,

How Are Delayed Retirement Benefits Calculated?

Hello Larry, I'm approaching age 66 in two months and am planning to file and suspend so as to receive maximum benefits at age 70. If during that four year period I need to take my full retirement benefits before age 70, does SSA prorate evenly the amount received? For example, if I file for full benefits at age 68, is the estimated incremental amount received exactly 50% of the difference between what the SSA would grant at age 66, and what it currently estimates at age 70? The SSA staff at our local office don't have to a way to calculate my benefits at age 68.