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PDtax
PDtax, CPA firm owner
Category: Social Security
Satisfied Customers: 4093
Experience:  35 years tax and professional advice in all matters money
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If I am working after the age of 65 and have to continue to

Customer Question

If I am working after the age of 65 and have to continue to pay money into the social security fund based on my wages will this increase my monthly social security payment once I receive it at age 70.5 ( I have elected to delay taking any payment)
Submitted: 11 months ago.
Category: Social Security
Expert:  PDtax replied 11 months ago.

Hi from just answer. I'm PDtax. I can assist.

Expert:  PDtax replied 11 months ago.

Contributions you make now might be part of your highest earning years, and as such can increase your future benefit by increasing your wage base. So, the general answer is those contributions likely do boost your future benefit.

I don't have your wage history to check, or your current wage level, or your current benefit. Typically, your income at this point in life is among the highest earning years. Also, you don't mention being at the top tier, or max benefit recipient. Those exceptions not being applicable, you will get a higher benefit by working and deferring your benefit. The base benefit will be higher, as well as the 8% premium you get each year for waiting to claim.

Expert:  PDtax replied 11 months ago.

Thanks for asking at just answer. Positive feedback is appreciated. I'm PDtax.