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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.
How Was My Benefit Amount Computed?
When I filed for social security at the age of 62, having paid in for 40 + years, I was told only the last 5 years counted. I don't understand that. I have worked off and on since then, I am now going on 76 years old and have been paying into ss since then with very small increases in my checks. I don't know how all of this is figured, but I don't think this is fair. When I hear
Politicians say entitlements need to be cut it really makes me mad. I could have been putting that money in investments and would have something to count on.
Hi,
I don't know who told you that only your last 5 years counted, but that's totally incorrect. Social Security retirement benefits are based on a person's best 35 years of inflation adjusted earnings. Refer to this pamphlet for more information: https://www.ssa.gov/pubs/EN-05-10070.pdf.
Best, Jerry
Category:
Posted:
July 8, 2016