- How It Works
- ServicesServicesOverviewChoose the right level of support for your plan and needsExpert ReviewA comprehensive review of inputs and reports to get you on the right pathFiling AssistanceLet our experts deal with Social Security for youClawback AssistanceFor those who need help fighting a Social Security benefit clawback
.png)
- Why Choose Us
- ResourcesResourcesBooksFrom the world-renowned economist behind Maximize My Social SecurityWebinars & PodcastsExpert tips and guides to help you get the maximum from Maximize My Social SecurtyArticlesIn-depth commentary on Social Security from our founderAsk LarryThousands of questions answered by our Social Security expertsBlogSocial Security insights to help you maximize your lifetime benefitsFAQYour most pressing questions answered
- Pricing
Ask Larry
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.
Will I Get A Lower Benefit If I File In January Of The Year I Turn Age 66?
I'll be 66 on 11/30/18 and will collect $2570. I was told by the local ssn that I could collect in January of 2018 and get the same amount $2570 as my payment is based yearly not monthly. I also called ssn and they told me its prorated monthly not yearly --- whos correct ??? don't want to collect early and loose money . Thanks
Hi,
Your benefit rate will not be the same if you file effective with January of 2018 as opposed to November of 2018. They would instead be permanently reduced by roughly 5.55%, or 5/9ths of 1% for each the 10 months of early entitlement. Therefore, if your benefit rate would be $2570 if you started drawing November 2018, you would receive about $2,427 if you instead started with January 2018.
You may want to consider running the maximization software available on this website in order to explore all of your options and determine your best filing strategy.
Best, Jerry
Category:
Posted:
January 16, 2017