Social Security

By : Law-Profiles.com Team

SocialSecurity

In order to apply for any Social Security benefits one must find out if, first they qualify for the benefits they are wishing to receive. The test is not an application for benefits and it doesn’t give you an estimate of benefit amounts, ask you for your name, or social security number and lastly it doesn’t access your personal Social Security records.

Information about Social Security benefits can be found on the Social Security Administration‘s website. An individual may start receiving retirement benefits as early as age 62, however if an individual decides to receive benefits starting at age 62 then their benefits are reduced a fraction of a percent for each month before your full retirement age. An Individual qualifies for Social Security benefits by earning Social Security credits when they work in a job and pay Social Security taxes.

You can apply for Social Security benefits online however you can’t apply for all aspects of Social Security benefits online. Online you may apply for retirement, disability and spouse’s benefits. An individual cannot apply online for benefits for children, benefits as a surviving spouse, lump sum death payments and lastly apply for Medicare coverage only.

An individual also may choose to delay retirement benefits. One last thing to consider about retirement benefits is if an individual works and gets benefits. An individuals earnings in or after the month they reach full retirement age will not reduce their Social Security benefits however their benefits will be reduced if their earnings exceed certain limits for the months before they reach full retirement age.

If an individual works and starts receiving benefits before full retirement age then $1 in benefits will be deducted for each $2 in earnings they have above the annual limit. Once the individual reaches their full retirement age they can keep working and their Social Security benefits won’t be reduced no matter how much they earn.

Another helpful benefit that the Social Security Administration offers is disability benefits. The Social Security Administration pays disability benefits in two different ways, one being through the Social Security disability program insurance, the second one is through the Supplemental Security Income (SSI) program. Individuals must meet two different earnings tests to be eligible for disability benefits. Lastly another option that the Social Security Administration offers is Survivor’s benefits. People usually only consider Social Security as paying retirement benefits however some of the Social Security taxes that individuals pay go towards providing survivors insurance for workers and their families. As an individual works and pays Social Security taxes they earn credits toward their Social Security benefits. The number of years and individual needs to work depends on the age of the individual when they die. Reduced widow benefits can be obtained as early as age 60.