Sentences with phrase «even after full retirement age»
(In those days the earnings test applied even after full retirement age, so people would consider delaying their benefits if they wanted to continue working after age 65.)
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If you delay your claim until your full retirement age — which ranges from 66 to 67 depending on when you were born — or even longer, until you are age 70, your monthly benefit will grow and, in turn, so will your surviving spouse's benefit after your death.
The age at which you can receive full retirement benefits is already scheduled to increase to 67 for anyone born in 1960 or after, and it's likely to go even higher.
Every year after that you lose another $ 2,400 of your advantage until you reach a break even point, 15 years after your benefits began (or 12 years after your full retirement age).
You can also boost your monthly payment above the normal amount by delaying your start date even after you reach full retirement age.
If you begin receiving benefits more than three years before your full retirement age, the break - even point will be about 12 years (144 months) after you reach full retirement age.
The social security program allows you to begin receiving benefits the month after you reach age 62, or to wait until your full retirement age, or even later.
Even if you don't plan to receive benefits right away, or decide to wait until after you reach full retirement age, you still should sign - up for Medicare three months before your 65th birthday.
The break - even point is the number of months after the start of your benefit when the total of all your delayed payments will be equal to the total you would have received if you started your payments at full retirement age.
The age at which you can receive full retirement benefits is already scheduled to increase to 67 for anyone born in 1960 or after, and it's likely to go even higher.
People who qualify for social security retirement benefits can begin receiving those benefits in the month after they reach age 62, or any month after that, even though they won't reach full retirement age for a few more years.