Delayed SS Credits

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winski58
Posts: 89
Joined: Mon Jan 28, 2013 2:59 pm

Delayed SS Credits

Post by winski58 »

I have a question related to the timing for applying for SS at 70. Spouse DOB is March 27 when he will turn 70. Is the month for accruing his last credit in February or March. This will determine when he will apply to assure he receives his last monthly 0.16667 monthly increase. Squeezing the last penny out of the benefit.
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HueyLD
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Joined: Mon Jan 14, 2008 10:30 am

Re: Delayed SS Credits

Post by HueyLD »

February.

https://secure.ssa.gov/apps10/poms.nsf/lnx/0300615690

“ An increment month is any month beginning with the month of FRA and ending with the month before attainment of age 70 (age 72 prior to 1984) for which the NH is due a retirement benefit but does not receive the benefit as he or she did not file an application for benefits or voluntarily suspended entitlement to the benefit. Only benefits due and not paid can count as increment months.”
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Voltaire2.0
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Joined: Thu Sep 26, 2019 10:12 am

Re: Delayed SS Credits

Post by Voltaire2.0 »

Or... go to this site

https://www.ssa.gov/oact/quickcalc/early_late.html

You can input birthdays (real and hypothetical) and see if the benefit changes.
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One Ping
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Re: Delayed SS Credits

Post by One Ping »

winski58 wrote: Sat Oct 17, 2020 12:38 pm I have a question related to the timing for applying for SS at 70. Spouse DOB is March 27 when he will turn 70. Is the month for accruing his last credit in February or March. This will determine when he will apply to assure he receives his last monthly 0.16667 monthly increase. Squeezing the last penny out of the benefit.
March.

He should apply for his benefit to start in March (Entitlement Date) to receive his maximum (age 70) benefit. He will receive the first payment in April.

I believe he could also apply anytime up to 6 months after March, if you wanted to be sure (e.g., in April ), and have payments paid retroactively to March, so he wouldn't miss any maximum benefit payments.
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