Suspending Retirement Benefits

How Do I Go About Requesting Voluntary Suspension Of My Benefits?

Hi, I am currently recieving disability benefits, and will reach fra in just a few weeks (4 jan 2017). To recieve drc when do I need to notify soc sec in Nov or Dec? Do I say effective with fra benefits? or suspend fra benefits? Having read the questions regarding drc benefits am quite confused. If I claim at age 70, would my full drc be included in the Jan 2021 benefit? and if I claim somewhere between fra and age 70, would I first recieve the fra amount with a retroactive adjustment to reflect the drc at a later date?

Can I Suspend My Benefits If I Get A Job?

I started receiving my social security benefits at age 62. I am now 63 and am finding that I need to go back to work to offset our health insurance costs and lower farm income because of commodity prices. My husband is self employed and also 63. He is planning on taking his social security at 66. If I get a job, can I suspend my social security benefits until age 66?

Hi,

Is It Still Possible To Suspend and Restart Benefits?

I read Mr. Kotlikoff's Forbes.com article "The Huge Payoff from Claiming Social Security Wisely" dated July 29, 2016. Case No. 2 closely resembles the situation for my husband and me. The article states that Liz, the lower earning spouse who claims at 62, could suspend her benefits at 66 and restart at a 32% higher rate at age 70. My understanding is that under the new Social Security rules, it is no longer possible to suspend and restart benefits. Am I wrong?

Hi,

Can My Spouse Suspend before FRA?

Hi, my husband took SS at 62 on June 15, 2015. approx. $1500/mo DOB 06/1953 He receives a Pension also. approx. $1500/mo. Is he eligible for suspending his SS at this time (July 11, 2016)? I am 65, but had been receiving SS Disability since 1994. approx. $900/mo with Medicare Part A & B DOB 12/1950. Can you help us reduce our income: he has to pay COBRA Health Ins at $2100/quarterly + deductible & co-pays. until he's 65. Lowering our AGI would help us under ACA Law Thanks, Rebecca

Should My Husband Suspend His Retirement Benefit

Larry,

My husband started receiving SS at 65 and 8 months. He is now
69. He has and is still working full time. Would his benefits increase if he
suspended SSC benefits and restarted in 6-12 months? He will be 70
in 2017.

Your husband can and probably should suspend immediately. He'll boost his benefit by 8/12 or .67 percent for each month he suspends between now and 70.

best, Larry

I'm 68. Should I Suspend My Retirement Benefit?

I'm 68 and took my ss at age 62. is there anything in your program than can help me to get more money? best, Ralph

Hi Ralph,

If you just turned 68, you can suspend your retirement benefit immediately and restart it again at 70 at a 16 percent permanently higher value. But if you turned 68 some months ago, the benefit to suspending will be smaller. Our program will calculated exactly what you gain from suspending on an annual as well as lifetime basis.

Don’t take a one-time payment. You can’t count on dying on time

Eric: I’ll be 69 in April and have held off taking benefits up to this point. I did a calculation to see what the break-even point would be at starting times of 66, 67, 68, 69 and 70. It turns out that all of them reach the break-even point at about age 80 to 81, at which time I would have made up the “leave it on the table” money and start coming out ahead with higher benefits (even factoring in the interest income lost).