Ask Larry

Hi Larry
I waited until age 68 and filed for benefits in September 2017. I initially received the 10% delayed credit in my 2017 payments. SSA has now calculated my increase for the remaining delayed credits which were applied effective January 2018 (paid in February). The remaining credits were applied to my May 2018 payment and a catch-up for the 3 paid months of February through April 2018 was paid in April. My question pertains to the payment months of October 2017 through January 2018 (4 months) which will never receive the delayed benefit credit adjustment. This adjustment would be $143 times 4 or $572. It does not make a lot of sense that these months would not also be entitled to the delayed retirement credit!!

I appreciate your response here!

Hi,

I don't know if it's fair or not, but based on Social Security regulations you are first entitled to delayed retirement credits (DRC) for the year 2017 effective with your payment for January 2018 that would normally be paid in February 2018. Your benefit rate for the months September through December 2017 would be credited with only the DRCs you earned through December 2016 (https://secure.ssa.gov/apps10/poms.nsf/lnx/0300615690).

Best, Jerry