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Experts at Maximize My Social Security have answered more than 10,000 questions about Social Security over many years. Search for your questions and answers here.
Did the Family Benefit Maximum Decline This year?
Is there a maximum monthly benefit amount? Was this maximum reduced in 2016? I was told by a social security representative that my benefit was reduced by $300.00 yr. in 2016, since the maximum monthly payout was reduced this year. I am waiting, struggling to collect my benefits until 70, and never expected to receive less benefits by enduring this struggle. I am not wealthy and social security is all I will have to retire.
Is this true?
best, Bob
Dear Bob,
No, there has been no reduction in the family benefit maximum so I don't get what Social Security was telling you. Perhaps they were telling you that you lost benefits due to the earnings test, which applies through the day you reach full retirement.
best, Larry
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Posted:
September 6, 2016