Did I Understand You Right? I Won't Get All My Social Security Benefits Immediately?
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Dear Rusty: I was a little confused with one of your past articles. This September I hit my full retirement age and for every month I continue to delay, my SS benefit goes up a little more. But reading your article sounds like the extra benefits are only added at the end of the year. For example, let's say that at my full retirement age in September I get $3,524, and in January 2027 I would get $3,619. According to the Ask Rusty article I read, if I start my benefits in June of 2027, I will have earned $3,735, but it sounds like I would only get $3,619 up until the end of the year, and then they would adjust it. If this is the case, would I get retroactive money back for the 6 months I did not get the correct amount? Signed: Seeking Clarification
Rusty’s answer in brief
Not right away. When benefits start after full retirement age but before 70, Social Security first pays only the delayed retirement credits earned through the end of the previous year. Credits earned in the current year are added the following January, with no back pay for those months, so a June 2027 start would get its 2027 credits in January 2028.
The rule exists because people who claim after full retirement age can take up to six months of retroactive benefits. The one exception: benefits that start in the month you turn 70 include every credit at once. Taking six retroactive months instead would permanently lower the monthly amount by about 4%.
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.