Some Helpful Information That Will Assist You To Know When And The Procedure To Submit Your Social Security Application


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As you get closer to retirement one of your top questions is most likely when and how to submit your Social Security application. Can you apply at age 62 or 66? What is the procedure for applying for Social Security once you've decided to begin collecting retirement advantages? We'll address these quires and more in the following paragraphs.

When to Apply for Social Security Retirement Benefits

Social Security retirement benefits can be collected as early as age 62 or as late as age 70. Full retirement age hinges on your birthday, but for boomers now beginning to retire, the full retirement age is 66. If you get advantages before you attain full retirement age, your benefit will be decreased by up to 25%. Alternatively, if you postpone collecting benefits after you get to full retirement age, your advantages will raise by 8% every year until you reach age 70. After age 70 you could no longer earn credits hence there is no benefit to delaying benefits after age 70.

According to the Social Security Administration, roughly 73% of present Social Security receivers are getting decreased advantages (because they elected to get them before their full retirement age); however this may not be the best plan. Your health, life expectation, marital status and other sources all play a role in when you must begin collecting benefits. Since Social Security plays such an important role in your retirement income (at least for most people), it is advised that you contact a financial expert who have experience in Social Security to aid you determine the good time to start receiving retirement benefits.

How to Apply for Social Security Benefits

Once you've decided when to start your advantages, how do you submit your Social Security retirement application? There are three methods to apply for Social Security:

1. You could go online to Social Security.gov and apply for advantages right on the site. However, at this time you can only apply for retirement benefits online (you should call or visit an office in person to apply for survivor benefits).

2. Call 800-772-1213 to apply for advantages by phone.

3. Or you can go to an office personally if you wish to talk to an employee in person. To find the closest office, visit the website at Social Security.gov.

You will require the following details when you submit your Social Security application:

- Social Security digit

- Name at birth, date and place where you were born

- Citizenship position

- Active duty service dates

- Marital status, partner's name, date of birth and SSN

- Name, date of birth and SSN of any former spouses

- Names of any not married kid below 18 years

- The name and address of every organization you worked for in the last two years, integrating estimated earnings

- If you are within 3 months of turning 65, you'll also have to let Social Security know if you are joining Medicare or not.

Further details might be required if you are self employed or if you worked in a government work that will provide a pension benefit.

Submit Your Social Security Application Three Months in Advance

You must apply for Social Security retirement benefits three months prior to the date you wish to start getting benefits. Payments are sent the month after the month they are owing. For example, if you apply for retirement benefits and demand that they start in October of 2010, you will receive your first payment in November 2010.

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