Ask Larry

Is There Any Way That I Can Increase My Benefit Amount?

I had to retire two years earlier to take care of my parents now I was not explained that if I hung out for the two years that I would get quite a bit more money when I did retire, so I went in the office and I did my paperwork and I missed out on about $600 right now Is there any way to make that up or are there any exceptions it would make it so much easier to live, and I don’t know why it wasn’t explained to me.

Hi. I assume you mean that you are collecting Social Security retirement benefits based on your own earnings. Social Security retirement benefits are based on an average of a person's highest 35 years of Social Security covered wage-indexed earnings, so one way that you could potentially increase your benefit rate is by working and earning more than you did in one of your previous highest 35 years of earnings. That's unlikely to increase your benefit rate by a huge amount, though.

Otherwise, if you started drawing benefits within the last year you could potentially withdraw your application and reapply for benefits at a later date ( There isn't enough information in your question for me to know whether or not that would be advisable in your case, though. And, in order to withdraw your application, you would have to pay back all of the benefits you've been paid so far.

Another possible way to increase your Social Security retirement benefit rate is to voluntarily suspend your benefits between your full retirement age (FRA) and age 70. For each month you suspend your benefits during those years, your benefit rate would be increased by 2/3rds of 1% (

Best, Jerry

Oct 23 2022 - 1:33pm
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