I turned 66 in May 2016 and retired Dec. 31, 2016. Applied for SS benefits in Sept. 2016. I am getting widows benefits.

I just finished reading your book on social security. Page 112 on the Social security calculators - which one will tell me, if I claim at FRA my benefits BUT keep working until age 69, HOW MUCH my social security amount will increase (I do know what my wages will be from age 66-69. Or does your calculator do that? 2nd question, my husband went on social security disability (SSDI) at age 60. He is now age 66 (his FRA). His social security amount is a lot higher than mine.

I turned 66 on January 23, 2016 and decided to delay my benefits by 2 months, so I started to collect in March of 2016 instead of January.
Now it is February 2nd, 2017 and I still have not seen any increase in my benefits resulting from the 2 months of delayed retirement credits I should have received.

My husband turned 66 in September 2016. At my urging he filed for Social Security benefits. We realize it wasn't in our best interests. He suspended his benefits. He just spoke to Social Security. He was told that suspending his benefits and waiting until age 70 will not increase the amount of the benefits. In order to increase the amount of benefits by 8% per year he must withdraw his benefit application and repay all of the benefits he has received. I'm sure that includes the premiums paid to Medicare.

Hi Larry, My question is I will be 69 in June 2017. I want to wait until age 70, but I'm running out of money. If I apply and request my SS benefit in June 2017, and I receive my first benefit in July will the increase be 24% over my FRA 66?

Hi,

I filed for benefits in July 2016 at age 69 and 7 months. Was my benefit calculated based on my age at the beginning of the calendar year? If so, will the benefit be adjusted for the additional 7 months? Also, did the calculation only include income through 2015. If so, will the benefit be adjusted for 2016 earnings? May not amount to much, but every dollar counts. Thanks.

Hi,

I am 66 and working full time. I have not started collecting SS benefits yet. I know that if I am not working and not collecting, my rate will increase by 8% every year. If I start to claim my benefits now, and continue to work, does my SS rate still increase 8% a year? I can't see any drawback to not collecting now.

Hi,

No, you only get the 8% per year increase if you delay taking your benefits. You may want to run the maximization software on this website in order to help you determine the best time to apply.

Best, Jerry

I am going to claim my SS benefit within the nexty 12 months in order to allow my wife to file for Restricted Spousal benefits in March of 2018. Does my SS benefit increase on a monthly basis, I turn 66 in June, or is it an annual increase. I would like to claim December 2017, if my benefit increases 3 to 4% by waiting until I am 66 1/2.

Hi,

I have another question about delayed retirement credits. My FRA of 66 was in 2014. I do have RR but now have been given the exact amount of Social Security retirement. It is 271.00 higher than my tier 1 RR. Does Social Security pay back pay of the delayed retirement credit portion when I do start benefits or is all of that money basically forfeited? I do understand that they no longer pay the lump sum as of April of 2016 but was not sure if the portion of delayed credit might be given.

IF I AM 66 YEARS OLD AND STILL WORKING FULL TIME AND ALSO GETTING MY SOCIAL SECURITY, WILL I BE ELIGIBLE FOR THE 8% WHEN I GET 67,68 YEARS OLD AND STILL WORKING.

Hi,

No, if you're receiving retirement benefits on your own record, you won't get the 8% per year increase resulting from delayed retirement credits (DRC). DRC increases are only accrued for months of non-payment between full retirement age and age 70.