Sentences with phrase «collect at full retirement age»

Under this rule, an individual 62 years or older can start collecting benefits but stop the benefits within 12 months of the start, repay the benefits collected, and then still be eligible for their higher benefit amount when they collect at full retirement age or older.

Not exact matches

Likewise, if you start receiving spousal benefits at your full retirement age, you will collect 50 percent (the maximum) of the monthly benefit your spouse will receive if his or her benefits started at full retirement age.

«If they want to collect divorced spouse benefits at full retirement age and switch to their own later, they should say it in the comments.

You can begin collecting Social Security at 62, but if you start taking your benefits before reaching your full retirement age — 65 to 67, depending on when you were born — your benefits will be reduced.

Postpone the start of Social Security: Postpone collecting Social Security until at least full retirement age, or longer to get the maximum retirement income 2017 (and beyond).

While it's true that you may end up collecting benefits for the longest period of time by starting at age 62, if you can afford to do so, it's generally best to wait at least until your full retirement age (FRA).

More than half of people in a MassMutual survey wrongly thought they could continue working at any age while also collecting full Social Security retirement benefits.

But if you follow the plurality and collect benefits at 62, your checks are an average of 25 percent smaller than if you had waited until your full retirement age.

Federal employees can collect Social Security at age 66, their full retirement age, without any reduction in benefits?

So if you're going to continue to work past full retirement age, even if you decide to collect your benefit at 66, let's say, I collect my benefit at 66, but I'm young, spry, and I still want to work for another 10 years.

62 year old parent of a 14 year old could wait four years to collect $ 2000 a month at full retirement age.

Married couples have even more opportunities for increasing the amount they'll collect over their joint lifetime by engaging in various claiming strategies, such as the older spouse filing and suspending his or her benefit at full retirement age so the younger spouse can collect spousal benefits while the older spouse's benefit continues to grow.

You can begin collecting Social Security at 62, but if you start taking your benefits before reaching your full retirement age — 65 to 67, depending on when you were born — your benefits will be reduced.

Your full retirement age (67 if you were born in 1960 or later) is the age at which you can start collecting full or unreduced benefits.

If you start collecting at age 66 or 67 (the full retirement age, depending on when you were born), you'll get your full benefit, and if you wait until age 70 (delayed retirement), you'll get a bonus — anywhere from 5.5 percent to 8 percent per year, depending on your age.

As a basic example, if you were born in 1943 or later and get $ 1,000 a month at full retirement age, you would receive only $ 750 per month by collecting at age 62, or $ 1,320 per month if you wait until age 70.

A loophole allowed a worker at full retirement age or older to apply for retirement benefits and then voluntarily suspend payment of those retirement benefits, which allowed a spousal benefit to be paid to his or her spouse while the worker was not collecting retirement benefits.

You can begin collecting Social Security benefits at the age of 62, but it will cost you more than 25 % of the benefit you would have received by waiting until your full retirement age of 66 or 67.

Although individuals are eligible to start collecting benefits starting at 62, only when you reach Uncle Sam's definition of full retirement age will the SSA pay 100 % of your benefits.

Despite the fact that the benefit amounts would be significantly higher when delayed beyond the full retirement age, 90 % of retirees begin collecting Social Security benefits at or before their full retirement age.

But, just for the sake of this example, let's say that the value of those Social Security payments is $ 500,000, a reasonable assumption for someone whose full retirement age for Social Security purposes is 66 and who begins collecting payments at that age.

You must live deep into retirement to make up the difference in the two potential payouts, the one you can collect at 62 and the one you can collect if you wait until full retirement age.

The amount of spousal benefits equals 1/2 of your ex-spouse's full retirement amount if you begin collecting benefits at full retirement age.