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Christopher B, Esq.
Christopher B, Esq., Attorney
Category: Social Security
Satisfied Customers: 2981
Experience:  associate attorney
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I am going to retire on march 30??? I have not signed up for

Customer Question

i am going to retire on march 30??? I have not signed up for social security...I am 67 years old...what do I need to do ??
JA: The Retirement Accountant will know how to help. Please tell me more, so we can help you best.
Customer: can I go back and pick up social security benefits from the past 2 years that I did not collect ???
JA: These retirement benefits are supposed to help us but they can be so complicated! The Retirement Expert will help you get the most benefits propertly. Is there anything else important you think the Retirement Accountant should know?
Customer: can I collect the past 2 years of social security that I did not collect when I turn age 65 ???
Submitted: 5 months ago.
Category: Social Security
Expert:  Christopher B, Esq. replied 5 months ago.

My name is ***** ***** I will be helping you today. Thank you for your question and for using justanswer.com. Give me a bit and I will get you an answer drafted.

Expert:  Christopher B, Esq. replied 5 months ago.

First of all full retirement age is age 66 for you not age 65 (it wull actually gradually go up to age 67 eventually). You can claim a retroactive benefits payment if you file for retirement benefits after you reach full retirement age (FRA). So if you file between age 66½ and 70, you can get up to six months of payments in a lump sum. The drawback is that since you waited until age 67, you gain an 8% credit per year that you delay until age 70. Between your FRA and age 70, your unclaimed benefits rise in value at the rate of 8% a year, thanks to delayed retirement credits. If you file for your retirement benefit at age 70, for example, you will qualify for the highest possible benefit—payments that are 32% higher than your benefit at age 66 and 76% higher than at age 62. So to answer your question, yes but you will lose your 8% credit increase and you can only receive 6 months in back benefits.

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Expert:  Christopher B, Esq. replied 5 months ago.

Just checking back in, do you have any further questions?