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Can i request a one time lump sum payment equal up to a

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Can i request a...

Can i request a one time lump sum payment equal up to a 6months.

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Would like to request a lump sum payment equal to 6months payment

Submitted: 7 months ago.Category: Social Security
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Answered in 5 minutes by:
11/25/2017
Social Security Expert: Lane, JD,CFP, MBA, CRPS replied 7 months ago
Lane
Lane, JD,CFP, MBA, CRPS
Category: Social Security
Satisfied Customers: 14,641
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial, Social Security & Tax advice since 1986
Verified

Hi. My name's Lane.

- I hold a law degree (J.D.), with concentration in Tax Law, Estate law & Corporate law, an MBA in finance, a BBA, and CFP & CRPS (Chartered Retirement Plans Specialist) designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice 1986.

...

There is no provision in the Social Security law that allows for that. However, what you MAY be hearing about is the fact that, if you apply for a benefit AFTER such time as you are entitled TO that benefit, Social Security limits the amount of time it will ay that benefit retroactively ... to six months back.

...

You can read more about that here: https://www.ssa.gov/OP_Home%2Fhandbook/handbook.15/handbook-1513.html (the time period can be 12 months for certain disability claims).

...

So yes, there CAN be a lump sum paid that equals 6 months of benefits. BUT what that MEANS is that you will have had to wait six months from the time you were actually due those payments to do so.

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Social Security Expert: Lane, JD,CFP, MBA, CRPS replied 7 months ago

Many of the times I have to tell people in this situation that this is a LIMITATION. For example, if you wait for 12 months on a regular retirement claim, they will STILL only pay the benefit retroactively in a lump sum for 6 months.

...

Please let me know if you have ANY questions at all, before rating me.

If this has helped, and you DON’T have other questions … I'd appreciate a positive rating, using the stars on your screen, and then clicking “submit" – That’s the only way I’ll be credited for the work.

I hope you’ll rate me based on my accuracy and thoroughness (as opposed to any good news/bad news content). Thank you!

...

But again, if you need more on this, please let me know.

Lane

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Social Security Expert: Lane, JD,CFP, MBA, CRPS replied 7 months ago

Hi, Lane here. ... I’m just checking back in to see how things are going. ... Did my answer help? … If so, I'd appreciate a positive rating, using the stars on your screen, and then clicking “submit" – That’s the only way I’ll be credited for the work. … But if you need more on this please let me know … Lane

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Lane
Lane, JD,CFP, MBA, CRPS
Category: Social Security
Satisfied Customers: 14,641
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Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial, Social Security & Tax advice since 1986

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