Say a person is entitled to full retirement benefits at age 66, but they retire from a full-time job at age 62, but don't actually apply for SSI until age 66 (they wait 4 years). Now will their monthly SSI check be based on age 62 or 66?
by 
debodun
ANSWERS: 3
-
It will apply from the age in witch it was filed for(66).
-
Even thought you stopped working at age 62, the government doesn't call you "retired" for social security purposes until you file for benefits. Your benefits will be calculated on the earnings you had during your working years. I stopped working 25 years ago, but I didn't file until this year, so my benefits are calculated on my earnings way back then, and I will start receiving my checks after my birthday Friday.
-
Your benefits are based on your highest 35 years of work and the age at which you take benefits. If you have your 10 years of work to qualify, but you do not have 35 years of work, your benefit amount will be based on all of your years of earnings and will be lower than if you worked for 35 years.
RELATED QUESTIONS
Copyright 2023, Wired Ivy, LLC