Security benefits.
However, if you receive
benefits before reaching your full retirement age, your
benefit amount will be reduced.
-
In the year you reach full retirement age, $1 in
benefits will be deducted for each $3 you earn above the annual
limit ($36,120 in 2008) until the month you reach full retirement
age.
After that, your benefits will not be reduced,
no matter how much you earn.
-
In the years before you reach full retirement
age, $1 in benefits will be deducted for each $2 you earn above
the limit ($13,560 in 2008).
If you lose benefits because of work, your benefit
will be increased later to account for the months you didn’t
receive a benefit before reaching full retirement age.
Delaying Retirement—You may decide to continue
working beyond your full retirement age without
choosing to receive benefits. If so, your benefit will
be increased by a certain percentage for each month
you don’t receive benefits between your full retirement
age and age 70. This table shows the rate your benefits
increase if you delay retiring.
Year
of birth |
Yearly
increase rate |
1937 - 1938 |
6.5% |
1939 - 1940 |
7.0% |
1941 - 1942 |
7.5% |
1943-or later |
8.0% |
Applying
For Social Security Retirement Benefits
And Medicare—It’s best to contact Social
Security
three months before the month in which you want
to receive retirement benefits to discuss the options
that are available to you. In some cases, your choice
of retirement month could mean additional benefits
for you and your family.
Even if you don’t
plan
to receive benefits because you’ll continue working, you
should sign up for Medicare three months before reaching age
65
regardless of when you reach full retirement age.
Otherwise, your Medicare medical insurance
(Part B) could be delayed and you could be charged
a higher premium. |
How
To Apply For Retirement
Benefits—You can apply online at www.socialsecurity.gov/applyforbenefits or
by calling 1-800-772-1213 between 7 a.m. and 7
p.m., Monday through Friday. If you’re deaf or hard of hearing,
call our TTY number, 1-800-325-0778, between 7
a.m. and 7 p.m., Monday through Friday, to file your claim. You
also can apply at any Social Security office. To avoid
having to wait, you may want to call first to make an appointment.
Be sure to have these items handy: your Social
Security number, birth certificate, W-2 forms or selfemployment
tax return for last year, and your bank
name and account number so your benefits can be
deposited directly into your account.
In addition to the information listed
above, you will need—
- Your military discharge papers if you had
military service;
- Your spouse’s birth certificate
and Social Security number and your marriage certificate if
he or she is applying for benefits; and
- Proof of U.S. citizenship or lawful immigration
status if you were not born in the United States.
You will need to mail or deliver original documents
or
copies that have been certified by the issuing office to
a Social Security office.
Need More Information—You
also have options for getting information about Social Security
and retirement. Visit the "Plan your retirement" section
of our website to estimate your Social Security benefits, find
answers to frequently asked questions about Social Security, learn
about factors that could affect your benefits and much more. And
you can get information about Social Security by visiting a local
Social Security office or by calling 1-800-772-1213.
You can print these publications from our website.
|
www.socialsecurity.gov
