I have been collecting social security income since I turned 62. I am 66 1/2 now. Can I ask to have my benefit suspended until I turn age 70. If that is possible, will my benefits grow while I am not taking the income between now and when I turn 70?Thank you
I have been to a social security office and was told that I was not elegable for withdrawal (paying back all my benefits & restart).
Today I phoned Soc Sec and asked about stopping my income and resuming later. They said no.
I realize you have a question about social security. My goal is to help you better understand your options.Thank you for your question! I'd be glad to help you with this issue and help you understand your options as they relate to social security. That being said, please rate my response based on my professionalism and honesty with you and not how the answer makes you feel. Unfortunately, you cannot suspend your benefits at this point. You can only suspend your benefits during the first 12 months you receive benefits, and when you suspend them you have to pay back everything you have received up to that point in order to suspend your benefit. I'm sorry I can't tell you something different, and I wish I had better news for you. If you need additional assistance, please let me know. Please rate me as "ok service' or better so that I can receive credit for assisting you today. Without a rating, or with a negative rating, I am penalized by the company. Thanks for using Just Answer.
Tennessee CPA with a Masters of Accountancy from Ole Miss