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LawTalk
LawTalk, Attorney
Category: Social Security
Satisfied Customers: 35406
Experience:  I have 30 years of legal and litigation experience, including representing clients before the U.S. Social Security Administration.
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How is the retirement benefit calculated? If I turn 66 in

Customer Question

How is the retirement benefit calculated? If I turn 66 in April, but don't file till September, will my benefit increase by 5 months since I will be 5 months older? Will they calculate my benefit on a monthly or yearly means?
Submitted: 1 year ago.
Category: Social Security
Expert:  LawTalk replied 1 year ago.
Good morning,
I'm Doug, and I'm sorry to hear of the confusion. My goal is to provide you with excellent service today.
I'm sorry that you received conflicting information when speaking with the representatives. I am an attorney handling social security and I can give you the definitive answer to your question.
Under social security regulations, if you reached full retirement age in April of a given year, for the next four years thereafter each month that you delay taking your benefit, your benefit will increase by the equivalent of 8% per year---which when broken down by months is equal to 2/3% per month.
Your benefit increase is calculated on a monthly basis---meaning that you are given credit for partial years of any delay period. Here is an official social security website that explains this in more detail:
http://ssa.gov/planners/retire/delayret.html
You may reply back to me using the Reply link and I will be happy to continue to assist you until I am able to address your concerns, to your satisfaction.
Kindly, remember to rate my service to you. That is how I am credited for assisting you.
I wish you and yours the best in 2015,
Doug