I Was Cheated, I Delayed Claiming Social Security, But I Didn't Receive My Full Benefits
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“In this podcast, Rusty tackles a question from someone who delayed claiming their Social Security benefit to age 68, but didn’t think he received full credit for delaying his benefit application. Rusty explains to this questioner that he was affected by an obscure Social Security rule which defers payment of current year credit for delayed retirement to the following January.”
Dear Rusty: I’m 70 now and took my Social Security benefits at age 68. Social Security would not allow me to take all my increased percentage earned by waiting until age 68 to claim. My local Social Security office said I would get an increased amount but not my full age 68 amount because it was “not an option;” they said I could take it only the way “they said.” That’s our illegal government. Signed: Feeling Cheated
Rusty’s answer in brief
Nothing was taken away; it is a timing rule. When benefits start after full retirement age but before 70, Social Security first applies only the delayed retirement credits earned through the previous December and adds the current year’s credits the following January. Starting at 68 in mid-2024 meant the 2024 credits arrived in January 2025.
The full age-68 amount is being paid now. The only way to receive every credit immediately is to start benefits in the month you turn 70. The local office had to follow the rule, which applies to everyone.
This recording presents the viewpoints of the AMAC Foundation’s Social Security Advisory Staff, trained and accredited under the National Social Security Advisors program of the National Social Security Association, LLC (NSSA). NSSA and the AMAC Foundation are not affiliated with or endorsed by the United States Government, the Social Security Administration, or any other state government. To request additional information, contact our Advisory Staff at 888-750-2622, or email us at SSAdvisor@AmacFoundation.org.