Ask Larry

Withdrawing Retirement Benefits

Is It Too Late To Return The Benefits I've Received And Change My Retirement Age To 70?

I began receiving social security at age 65, is it to late to return what I have received and change my social security retirement age to 70.? I am now 80 years old.

Hi. Yes. You are only allowed to withdraw an application for Social Security retirement benefits if you do so within 12 months of the month your benefits started (

Best, Jerry

Wednesday, August 3, 2022 - 11:49

If I've Requested A Withdrawal Of My Claim Is It Possible To Get An Extension Of The Time Limit For Repaying My Benefits?

I'm 64 years old and took social security at 63 for 9 months, due to unemployment. I've withdrawn my application but most likely won't be able to pay back my benefits by the due date of 75 days. Is an extension greater than 75 days possible, or an installment plan past the 75 day limit? I'm employed now and could repay but not the full amount by the 75 day due date. For full amount I would need 4 to 6 months.

Saturday, November 27, 2021 - 12:11

Is There Any Problem With My Plan?

Hello Larry,
I am considering filing to receive social security in the spring after having recently reached age 62 in order to qualify and also get the best rate for a refinance on either or both our primary residence and our rental condominium. The plan would be to use the funds to improve both our debt to income ratios and our reserves, refinance one or both mortgages, then return the money before the end of the year so I can stop social security and file at a later time for a higher monthly amount. Any problems with this plan I should be aware of?

Wednesday, November 17, 2021 - 13:31

Did My Withdrawal Request Need To Be Filed Within 12 Months Of When I Turned Age 66?

Started taking benefits May 2018 (age 68 Apr 2018). In Apr 2019 (age 69) applied for benefits withdrawal. Application rejected saying it should be within 12 months of entitlement (i.e. within 12 months of 66 age). Is this correct? Appeal also denied. Is my understanding correct? If so how to rectify?

Wednesday, October 6, 2021 - 08:08

If I Pursue My Appeal To The Next Step, Will I Prevail?


Because of a complicated Medicare situation, my local office advised me to apply for my SS retirement benefits immediately. I did, in Jan ‘19. The money accumulated in an account opened just to receive these funds—and has never been touched. Several months afterwards, I could see it was not going to help restore my Medicare.

Saturday, September 5, 2020 - 08:32

If I Switch To My Own Social Security Would I Be Allowed To Repay What I Collected Without Any Penalty?

I started receiving $433.00 on my ex husband's account when I turned 66. I turned 67 this month. Unfortunately, due to a very unexpected development, I am in need of a larger amount than I am getting for monthly expenses. I will be receiving a disbursement from an estate but that can take from 9 to 12 months to receive.
Question: If I switch over to collecting on my own Social Security now would I be allowed to repay what I collected o

Sunday, March 24, 2019 - 10:17

Can I Undo My Decision If I File For Reduced Benefits?

I have been thinking of taking my ss at age 62 after running the numbers on your program with a life expectancy of age 84.
If I should rethink my decision to file early, is there anyway to undo this and receive my benefits later?
I have also read in the past there is an exclusion to repay all the money you received from age 62 to 66 and then start receiving your new and higher benefit at age 66. Is this true? Thanks in advance.


Sunday, September 25, 2016 - 11:15

Can I Withdraw My Retirement Benefit After Collecting It For One Year?

Hi Larry,

I just turned 65 in June of this year. I started my S.S. Benefit in Feb. of this year. If my finances allow, I want to WITHDRAW MY BENEFIT IN JANUARY OF 2017, WHICH WILL BE THE 12TH MONTH I HAVE RECEIVED BENEFITS. I WAS TOLD, IF I PAY THE Benefit amount BACK WITHIN 60 days of the end of the 12 months, my Lifetime Benefit will not be affected. IS THIS CORRECT??? IF I WAIT UNTIL AGE 70 TO COLLECT MY BENEFIT I WILL RECEIVE 800-1000 DOLLARS MORE PER MONTH. WHAT IS THE BEST THING TO DO??? THANK-YOU KINDLY!

Saturday, July 16, 2016 - 15:00
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