HomeSocial SecurityHow to Continue Working and Still Claim Full Social Security Checks?

How to Continue Working and Still Claim Full Social Security Checks?

There are other social security payment categories, but the one we will focus on in this article is for the Retirees. Especially those who still have a lot of strength and still want to work.

There are 2 types of Age for one to start claiming the Social Security Retirement benefits. We have the SSA acceptance age and we have the full or normal retirement age. The acceptance age differs from the full or normal retirement age.

The SSA’s Acceptance Age

This is the age from which one is qualified to apply for Social Security Benefits. Age 62 is the qualifying age for everyone. Applying at the age of 62 has its advantages and a lot of disadvantages.

One advantage is that the person who applies for the social security benefits at the age of 62 will enjoy the benefits for a longer period than the person who applied late. Someone who applied at 62 would have enjoyed 8 years of monthly payments than the person though qualified delayed and applied at the age of 70.

On the other hand, there are lots of disadvantages to applying late. One of the disadvantages is that the person’s full payment gets reduced by as much as 25.2% for themselves and a 15.4% reduction for their registered spouse. The painful part is that the first payment is the basis for all the payments till the receiver dies.

As we move From age 62, depending on when the person registers for social security, the amount keeps increasing and a person gets 100% payment of their social security benefits when they register at their full or normal retirement age.

The SSA’s Full or Normal Retirement Age

The full or normal retirement age before was 65. But because a lot of people decided not to die early, Congress in 1983 decided to increase the age from 65 to 67; but the increment is gradual.

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For those born 1943 and 1954, full or normal retirement age is 66, the year 1955 is 66 and 2 months, the year 1956 is 66 and 4 months, the year 1957 is 66 and 6 months, the year 1958 is 66 and 8 months, the year 1959 is 66 and 10 months, finally for those who were born in 1960 their full or normal retirement age is 67.

That was how Congress plan to achieve the increment. Therefore, you need to know when your full retirement age is and join at that age before you can start earning the full social security payment. 100%. Anything lesser than the full or normal age is a lesser percentage of the social security payments.

Can you Work, be on Salary, and Still Earn full Social Security Payments?.

The answer is Yes!!! You can work. But you won’t get full payment of your social security benefits if you applied for Social Security before the full or normal retirement age. It’s all about applying at the right time.

Although economic hardship can make people apply earlier than the full retirement age, it’s fine. But if you can wait, wait till the full retirement age and apply for social security. Once you apply at this age. You get paid 100% at work and also get paid 100% from Social Security Services.

Bonus Question

What happens if you delay the Social Security Payments Application a little longer than the full retirement age?

What happens is that you get paid Delayed retirement Credits for every year you delay after the full retirement age, you get an addition of 8.0%. This addition stops at age 70. But whatever is added is what forms the basis of what you will be paid for the rest of your life in social security.

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