I will be turning 66 in September and plan to go go to the SSA Office and apply for retirement benefits and then suspend my benefits until I reach age 70. I've read your book on "Get What's Yours" and you talk about to be sure you state what you want in the remarks section. If I state in the remarks to suspend my benefits until age 70, do I need to account for the 6-month retroactive pay? I don't want to wait until 70 and because of not being clear, it is identified that I want my benefits to start at age 69.5. What should be stated in the remarks section? Thank you for your assistance.

Hi,

There's almost certainly no reason for you to file for and suspend your benefits at age 66. You will still accrue delayed retirement credits (DRC) from your full retirement age (FRA) until age 70 even if you simply wait until age 70 to apply. So, filing for and suspending your benefits wouldn't gain you anything, and it could potentially keep you from drawing other benefits (e.g. spousal, survivor) for which you may qualify.

If you want to start drawing your benefits at age 70 then you just need to file an application within 4 months of the month you reach age 70 and elect to start drawing your benefits effective with the month you reach age 70. If you insist on filing for and suspending your benefits at your FRA of 66 you can do so by entering a remark on your application stating that you want to suspend your benefits effective with you the month you reach age 66. You wouldn't need to say anything about starting your benefits at age 70 because that would happen automatically if you don't reinstate your benefits before then.

You may also want to use our software (https://maximizemysocialsecurity.com/purchase) to determine what other filing options may be available to you.

Best, Jerry