Sentences with phrase «receive at your retirement age»

Not exact matches

A widow or widower is eligible to start receiving reduced benefits on your record as early as age 60 and full benefits at their full retirement age.

You receive 100 percent of your retirement benefit if you claim at full retirement age — 66 or 67 for most individuals, depending on when you were born.

While you are eligible to receive 75 percent of your retirement benefits at age 62, that could be reduced to as little as 50 percent depending on your tax bracket, Myers said.

Those with a full retirement age of 66, for example, would receive a 25 percent reduction in benefits if they start receiving benefits at age 62.

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.

«Gaps are certainly of special concern to those considering early retirement, since they are eligible for Social Security benefits at 62, but must wait until age 65 to receive Medicare,» said Kimberley Foss, a certified financial planner and founder of Empyrion Wealth Management.

If you start receiving benefits as a spouse at your full retirement age, you will get 50 percent of the monthly benefit your spouse would receive if their benefits started at full retirement age.

Can you afford to «retire early» and claim benefits at age 62, should you wait until your full retirement age, or can you wait until age 70 in order to receive the largest possible monthly benefit?

If you start receiving retirement benefits at age 62, you will get 75.8 % of the monthly benefit because you will be getting benefits for an additional 46 months.

The loophole allowed some married individuals to start receiving spousal benefits at full retirement age, while letting their own retirement benefit grow by delaying it.

If you start receiving spouse's benefits at age 62, your monthly benefit amount is reduced to about 32.5 percent of the amount your spouse would receive if their benefits started at full retirement age.

Even if you have never worked under Social Security, you may be able to get spouse's retirement benefits if you are at least 62 years of age and your spouse is receiving retirement or disability benefits.

your full retirement age, you will get 50 % of the monthly benefit your spouse would receive if his or her benefits started at full retirement age.

En español Let the Social Security Calculator help you figure out how much retirement income you'll receive at different claiming ages so you can determine when you should claim Social Security.

Here's the breakdown: In 1960, a married couple in which each spouse earned average wages over a career beginning at age 22 and retired on his or her 65th birthday would receive about $ 300,000 in health and retirement benefits.

The survey of 903 adults aged 50 or older, who are either already retired or plan to retire in the next ten years, revealed those who began receiving Social Security income early report a lower average monthly payment ($ 1,190) than those who started at their full retirement age ($ 1,506) and those who delayed benefits until age 70 ($ 1,924).

I plan on taking Social Security at 66, because that will be full retirement age for me, and my wife will receive 50 % of my benefit when I claim it (the max she can get).

If you were born between 1943 — 1954 then as a percentage, if you retired at your normal retirement age (NRA), you receive 100 % of your benefit which in $ terms the max is $ 2,639.

If you retired at age 70 (max retirement age) then you will receive 132 % of your normal retirement age benefit, which the max amount for that age is $ 3,576.

Full Retirement Age (FRA) is the age at which you are eligible to receive unreduced retirement benefiAge (FRA) is the age at which you are eligible to receive unreduced retirement benefiage at which you are eligible to receive unreduced retirement benefits.

If you are not already receiving benefits, be sure to contact us at the beginning of the year you reach full retirement age.

In many cases, a widow or widower can begin receiving one benefit at a reduced rate and then, at full retirement age, switch to the other benefit at an unreduced rate.

Depending on when you were born, you can get a monthly benefit check that's up to 132 % of the amount you would otherwise receive at full retirement age.

At age 66 the SSA would recalculate your retirement age from 62 to 64 (accounting for the cumulative 2 years you did not receive benefits), and increase your monthly benefit to what it would have been if you had retired at 6At age 66 the SSA would recalculate your retirement age from 62 to 64 (accounting for the cumulative 2 years you did not receive benefits), and increase your monthly benefit to what it would have been if you had retired at 6at 64.

Say your full retirement age is 66, and you'd receive $ 1,000 from Social Security every month starting at that age.

The Social Security Administration says that if you delay receiving your Social Security benefits until you hit 70, your monthly payment will be 32 percent higher than if you had retired 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.

If you receive a spouse's benefit beginning at age 62, your benefit is reduced to about 32.5 percent of the amount your spouse would receive if he or she started getting benefits at full retirement age.

On the other hand, if your husband delays receipt of benefits until age 70, he earns delayed retirement credits and he locks in a benefit that is 32 % higher than the amount he receives at full retirement age (age 66) and 76 % higher than the benefit he would have received had he started taking benefits at age 62 (Source: Social Security Administration).

Even if you have never worked in your life, you can claim your spouse's retirement benefits if you are at least 62 years of age and your spouse is eligible to receive benefits.

If you start receiving benefits at your full retirement age, your benefit is equal to half of your ex-spouse's full retirement amount or disability benefit, according to the Social Security Administration.

How much you receive each month, however, depends on when you elect to begin taking benefits and whether you've reached full retirement age at that point.

Full retirement age is the age at which you become eligible to start receiving full retirement benefits.

Most teachers earn the right to health benefits in retirement, which can provide full coverage from retirement through Medicare at age 65; they often receive supplementary benefits thereafter.

Using the system's benefit formula, we can compute the value of the annual annuity payment that she will receive upon retirement under this scenario, which she will be eligible to begin collecting at age 60.

Once an employee reaches retirement age, pension benefits are disbursed as an annuity, a fixed benefit that a worker receives every year starting at retirement until death.

«If she leaves the system with at least five years of service, she has now vested and is eligible to start receiving pension benefits once she reaches retirement age.

Massachusetts public school teachers are eligible to receive full retirement benefits from the Massachusetts Teachers» Retirement System at age 55 with at least 10 years of teaching service, or at any age with a minimum of 20 years of teaching service.

However, vested teachers who entered the system prior to this date may retire with unreduced benefits at age 60 or 62, depending on their date of entry, which means that teachers are receiving unreduced retirement benefits well before Social Security retirement age.

Even if you have never worked under Social Security, you may be able to get spouse's retirement benefits if you are at least 62 years of age and your spouse is receiving retirement or disability benefits.

In contrast, those who wait until age 70 to enroll are rewarded with a 32 % increase in the total monthly payment they qualify for at their full retirement age.1, 2 Today, the average monthly social security check is $ 1,404.3 If an individual was eligible to receive the average monthly payment amount at their full retirement age but they enrolled at age 62, they would only receive $ 1,053 per month.

One of the reasons that the average Social Security retirement benefit amount is so far from the maximum is because the largest number of Americans begin receiving benefits as soon as they're allowed — at age 62.

The SSA determines the amount of a surviving spouse's retirement benefit based on the benefit of the deceased and the age at which the survivor chooses to begin receiving payments.

My Full Retirement Age (FRA) is 66 and if I elected to take a benefit at age 62 I would receive 25 % less than what I would have received if I waited until full retirement age; a significant decreaAge (FRA) is 66 and if I elected to take a benefit at age 62 I would receive 25 % less than what I would have received if I waited until full retirement age; a significant decreaage 62 I would receive 25 % less than what I would have received if I waited until full retirement age; a significant decreaage; a significant decrease.

Although you can qualify for Retirement benefits at age 62, many people wait until full retirement age (65, 66 or 67 depending on birth year) to receive their maximum monthly benefit.

Your full retirement age is the age at which the Social Security Administration (SSA) deems you eligible to receive 100 % of your retirement benefit.

Based on these estimates, your statement allows you to compare what you would receive each month if you were to take benefits at the earliest possible age — currently 62 — as well as if you took them at full retirement age, or delayed them until age 70.

If your spouse already receives benefits, ask them what their benefit would be if it started at their full (or normal) retirement age.

Under current rules, which remain in effect until 2011, starting CPP at the earliest age of 60 entails a 30 - per - cent reduction in monthly payments but «you would have to live well past 75 in order to receive more from the plan than by waiting until the normal retirement age of 65,» writes tax and estate lawyer Christine Van Cauwenberghe in her book, Wealth Planning Strategies for Canadians 2010.

Find the estimated amount of the retirement benefit your spouse would be eligible to receive at full retirement age.