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dylatess
dylatess, ATTORNEY
Category: Social Security
Satisfied Customers: 3441
Experience:  37 plus years of SSD practice
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I'm retiring when I reach age on 09/03. SS says they will

Customer Question

I'm retiring when I reach age 69 on 09/03. SS says they will give me 6 months retro when I file but won't this reduce my benefit as if I were only 68.1/2 when retiring? Thanks.
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. Please tell me more, so we can help you best.
Customer: Well, that was the whole question. Do retro benefits affect the amount of your SS benefits for the rest of your life? It seems to me by giving me retro 6 months, I will only get a 4% increase on my 69th birthday instead of the usual 8%. Correct?
JA: Is there anything else important you think the Retirement Accountant should know?
Customer: Except if I apply after my 69th birthday, can they give me retro without it affecting my final SS payout?
Submitted: 5 months ago.
Category: Social Security
Expert:  emc011075 replied 5 months ago.

Hi. My name is ***** ***** I will be happy to help you.

Your assumption is correct. If you receive 6 month retro, your benefits will be reduced by 4% for the rest of your life. Retro means you applied for your benefits 6 month earlier.

Expert:  emc011075 replied 5 months ago.

I see you read my respond. Do you have any questions? Is there anything else I can help you with today?