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emc011075, Tax Adviser
Category: Social Security
Satisfied Customers: 2835
Experience:  Tax adviser IRS licensed Enrolled Agent and tax instructor
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Can you apply lump sum social security payment at age

Customer Question

Can you apply for a lump sum social security payment at age 62?
If so, approximately what would the total amount be if you were eligible for $1900 monthly.
Submitted: 1 year ago.
Category: Social Security
Expert:  emc011075 replied 1 year ago.
Hi. My name is ***** ***** I will be happy to help you. The only lump sum offered by social security is 12 retroactive payment after you reach your full retirement age and suspend you benefits. Unlike your retirement or pension account, social security is a government trust fund that is used to pay benefits to eligible retires. No, you cannot get your social security in lump sum payment.
Expert:  emc011075 replied 1 year ago.
Mark, I see you read my respond. Do you have any questions? Is there anything else I can help you with today?And if this answered your question, please take a moment to rate my response so that I may receive credit for assisting you today. You find the rating bar on the top of the page – 5 stars. However, if you need clarification, or want to discuss this issue further, let me know. Thank you.