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Jonathan Tierney
Jonathan Tierney, Certified Public Accountant
Category: Social Security
Satisfied Customers: 322
Experience:  Tax Accountant at Praxair, Inc.
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My husband is currently receiving Social Security. We would

Customer Question

My husband is currently receiving Social Security. We would like to inquire about him receiving all his benefits in one lump sum. How do we go about doing this?
Submitted: 1 year ago.
Category: Social Security
Expert:  Jonathan Tierney replied 1 year ago.

Hi, my name is ***** ***** I can help. Unfortunately, Social Security does not offer an option to take your Social Security benefits as a lump sum like you could with a pension or other retirement plan.

The option to take a lump sum is available is for individuals that have reached their full retirement age and choose to continue to delay receiving benefits, which allows them to eventually get a higher benefit when they do start collecting. However, if you change your mind, you can apply and undo your decision to delay benefits and receive as a lump sum up to 12 months of benefits at once. Is this the situation you are referring to?

Customer: replied 1 year ago.
no.. We were informed that if you were born in the 1940"'s that you were entitled to receving a one time lump sum...
Customer: replied 1 year ago.
no.. We were informed that if you were born in the 1940"'s that you were entitled to receiving a one time lump sum...
Expert:  Jonathan Tierney replied 1 year ago.

Where did you hear this?

Customer: replied 1 year ago.
Social Security announcements
Expert:  Jonathan Tierney replied 1 year ago.

The only Social Security lump sum payment I know of is the one-time death benefit. Do you have this announcement?

Customer: replied 1 year ago.
no
Expert:  Jonathan Tierney replied 1 year ago.

Social Security does not offer an option to exchange your monthly payments for a lump sum. In fact, you have no ownership interest in your future Social Security payments, as a future Congress may change Social Security benefits at any time with its total discretion. Social Security has always offered a lump sum death benefit, however.