What You Need to Know About the New Laws for Claiming Retirement Benefits
Reading Time: 2 MinutesLast Updated: August 19, 2021
Have you heard that some of Social Security’s rules about claiming benefits are changing? Well, it’s true. The Bipartisan Budget Act that passed last November closed two complex loopholes that were used primarily by married couples. We want you to know why this happened, how it might affect you, and what you should do next.
But first, don’t forget that one of the best ways to increase your Social Security retirement benefit is to delay claiming it between ages 62 and 70. Each month you delay results in a higher monthly benefit for the rest of your life. The new law doesn’t change this.
The new law closes loopholes that allowed some married couples to receive higher benefits than intended. Only a small fraction of retirees used these loopholes. Closing them helps restore fairness and strengthens Social Security’s long-term financing.
So what’s changing with the new rules?
- First, if you are eligible for benefits both as a retiree and as a spouse (or divorced spouse), you must start both benefits at the same time. This “deemed filing” used to apply only before the full retirement age, which is currently 66. Now it applies at any age up to 70, if you turned 62 after January 1, 2016.
- Second, if you take your retirement benefit and then ask (on or after April 30, 2016) to suspend it to earn delayed retirement credits, your spouse or dependents generally won’t be able to receive benefits on your Social Security record during the suspension. You also won’t be able to receive spouse benefits on anyone else’s record during that time.
For more information about these changes in the law, please visit Recent Social Security Claiming Changes and Retirement Planner.
Deciding when to start your Social Security benefits is a complex and personal decision. You may contact Social Security at 1-800-772-1213 (TTY 1-800-325-0778), or visit your local field office, to speak with a representative about your retirement options. In particular, if you are or will be full retirement age (66) or older before April 30, and you think you want to suspend your benefits, contact us as soon as possible before April 30. But remember, if you want to let your retirement benefit grow, you can simply delay taking it, up to age 70.
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About the Author
Virginia P. Reno, Deputy Commissioner, Retirement and Disability Policy
Virginia P. Reno, Deputy Commissioner for Retirement and Disability Policy, Social Security Administration
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Wayne
I applied for social security in March and don’t want to start payments 06-1-2019. How long does it take to get approval? My online account is still showing pending.
Susan
Whayt if my monthly Social Security benefit is less than the monthly Medicare premium??
V.V.
Susan, thank you for your question. Typically, when a Social Security beneficiary is entitled to Medicare Part B, the monthly premium is deducted from the check for each month of coverage. However, that is not always the case. If the monthly Social Security benefit is lower than the amount of the monthly Medicare premium, a premium liability amount remains. In this situation, Social Security will bill the beneficiary directly for the remaining liability amount.
Debra W.
when i apply for full retirement do i need to wait a certain amount of time after my 66th birthday to apply??
Cynthia L.
How soon before I turn 70 can I apply for my Social Security benefits?
A.C.
Hi, Cynthia. If you are referring to an application for retirement benefits, our system is set up to take applications four months in advance. You can apply for Social Security retirement benefits when you are at least 61 years and 9 months of age. When you are ready you can complete the online application for Social Security retirement benefits in as little as 15 minutes. We hope this helps.
Lillian S.
Now that we have total transparency in the government; is there any benefit or act for woman on disability with low income that will make their disability more?
Donald S.
I will have full retirement age on July 17 2019. When do I need to submit my request to SS. I have my account online.
A.C.
Hi, Donald. Thanks for your question. Social Security retirement applications can be filed up to four months in advance. When you are ready to file, visit our Retirement web page. We hope this helps.
Kevin W.
I am currently receiving social security disability benefits, I just turned 62 and would like to switch to regular social security due to being penalized due to receiving worker’s compensation also. What would my benefits be if I take earlier retirement?
David N.
I will be 65 in Dec 2019. If I elect to begin taking Social Security in January 2020, and continue working in my present job, how much money can I make in 2020 before I am penalized ?
Marlene P.
I’m 70 yrs old. How much money can I earn in wages without loosing benefits?
A.C.
Hi, Marlene. If you work and are full retirement age or older, you may keep all of your benefits, no matter how much you earn, starting with the month you reach your full retirement age. Please visit our Retirement Planner: Getting Benefits While Working for more information.
Nancy
im 66 years old. Can I work as much as I want without getting penalized?