Hi, my name is ***** ***** I thank you for your inquiry. I have been practicing SS law full time for 10+ years and look forward to assisting you.
With regard to your post:
" I have been getting widows benefits since I was sixty. I am now 66, about to turn 67 and still working. Do I get reimbursed for the withheld benefits for the last six years now that I am retirement age ? About $5,000 a year was withheld." ------ No, this is a tax on our income towards the fund that is used for the population's social security benefits. Like other taxes, we owe it whether we use it. Similarly, like insurance premiums, we don't get a refund if the insurance trigger doesn't occur and we don't become entitled to proceeds from a policy we bought.
We pay SS taxes (premiums) like we pay income tax and even if we don't use the benefits we are insured for, just like income tax and the benefits it provides, we don't get our tax payments back if we don't use the items they went to pay for (ie. road repairs, highway building, etc).
That said, if you refrain from taking your own benefit amount until age 70 and then collect it instead of survivor benefits
, by delaying taking on your own record, you will earn delayed earnings credits that will increase YOUR record benefit amount by 32% greater than had you collected at your full retirement age. Moreover, depending on your work history, your primary insurance amount applicable at full retirement age could be increasing based on your current work.
I hope this helps! My goal is to provide you with excellent and accurate service – if you feel you have gotten anything less, please reply back, I am happy to address follow-up questions. Kindly rate me "excellent" when you are done. I look forward to assisting you in the future, should you have legal questions. Be sure to start future posts with "To Stephanie O Joy Esq., ONLY" if you want me to specifically answer it.
Sincerely, ***** ***** Joy, Esq.
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