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How Do I Get A Maximum Increase Automatically?
I took early retirement at 62, I receive $1257 a month after Medicare Part B premium are taken out,, my question is when I turn 70 do I get a new maximum increase automatically to Social Security coming to me since I reached that age now in April 2021.
Hi,
I'm sorry, but I don't know what type of increase you're referring to. A person's benefit rate doesn't automatically increase at age 70 unless they voluntarily suspended their benefits between full retirement age (FRA) and age 70.
Other than cost of living increases, about the only other way that your benefit amount would increase at age 70 or after is if you're working and you earn more in a year than you did in one of your previous highest 35 years of wage-indexed earnings.
Best, Jerry
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July 31, 2020