Ask Larry

Hi,

I know my SSDI benefit will end when it automatically converts to retirement benefits at my FRA.- age 66, 3 months. I recently inherited some money and want to know if I could suspend receipt of retirement benefits at FRA, live off of the inheritance and then collect higher retirement benefits when I turn 70.

Thanks!

Hi,

Yes, you can. And, if anyone at the Social Security office tells you that you can't do so, refer them to example 3 in section A.1 of part GN 02409.110 of the the Social Security operations manual (https://secure.ssa.gov/apps10/poms.nsf/lnx/0202409110).

One important item to be aware of is that if you want to request voluntary suspension, you must make your request no later than the month prior to the month that you want the suspension to begin. Therefore, if you want to suspend your benefits effective with the month you reach full retirement age (FRA) you'll need to make your request no later than the month before then. Requests for voluntary suspension can be submitted to Social Security either orally or in writing, but if you make your request by phone it wouldn't hurt to follow that up with a written request on a form SSA-795 (https://www.ssa.gov/forms/ssa-795.pdf).

Best, Jerry