You should apply no later than the month in which you want your benefits to start. You can file up to four months before that, which gives Social Security ample time to process your application. As the minimum age to collect retirement benefits is 62, the earliest you can apply is when you reach 61 years and 9 months. Show
Keep in mind
Published October 10, 2018 Q&A ToolFind the answers to the most common Social Security questions such as when to claim, how to maximize your retirement benefits and more. If you set benefits to begin at full retirement age (FRA) — 66 and 4 months for people born in 1956 and gradually rising to 67 over the next few years — your first payment generally will arrive in the month after you attain that age. That’s because Social Security pays benefits a month behind, so your benefit for, say, June 2022 will arrive in July. Your birthday generally determines your monthly payment schedule:
So, if you reach full retirement age on June 15 and start benefits then, you’ll get your first Social Security payment on the third Wednesday of July. There's an exception if you were born on the first day of the month. In this case, Social Security considers you to have attained full retirement age on the last day of the month preceding the milestone date. For example, if you were born July 1, 1956, you attain full retirement age on June 30, 2022, and you would receive your first payment in July 2022. Keep in mind
Choosing when to start receiving your Social Security retirement benefits is an important decision. There’s no one choice that works for everyone because your lifestyle, finances, and goals are not the same as others. Do you want to retire early, stay on the job, or work beyond retirement age? Should you start receiving retirement benefits now, or wait until you can receive a higher benefit amount? These are important questions you’ll
need to answer as you plan for your retirement. Consider the four options below to help you make the best decision. If you start your benefits before your full retirement age, your benefits are reduced a fraction of a percent for each month before your full retirement age. You can get Social Security retirement benefits and work at the same time before your full retirement age. However your benefits will be reduced if you earn more than the yearly earnings limits. After you reach your full retirement age, we will recalculate your benefit amount to give you credit for any months you did not receive a benefit because of your earnings. We will send you a letter that explains any increase in your benefit amount. If you delay filing for your benefits until after full retirement age, you will be eligible for delayed retirement credits that would increase your monthly benefit. If you also continue to work, you will be able to receive your full retirement benefits and any increase resulting from your additional earnings when we recalculate your benefits. Once you reach full retirement age, your earnings do not affect your benefit amount. If you start receiving retirement benefits before age 65, you are automatically enrolled in Original Medicare (Part A and Part B) when you turn 65. If you or your spouse are still working and covered under an employer-provided group health plan, talk to the personnel office before signing up for Medicare Part B. To learn more, read our Medicare publication. B. You can stop working and start receiving your retirement benefitsIf you make the decision to stop working and start receiving retirement benefits before your full retirement age, your benefits are reduced a fraction of a percent for each month before your full retirement age. Also, your benefits will not increase because of additional earnings. We calculate your benefits based on your highest 35 years of earnings, and if you stop working before you have attained 35 years of earnings or you have years with low earnings, this will affect your benefit calculation. If you delay your benefits until after full retirement age, you will be eligible for delayed retirement credits that would increase your benefit. If you stop working and start receiving retirement benefits before age 65, you are automatically enrolled in Original Medicare (Part A and Part B) when you turn 65. If you are not receiving your Social Security benefits when you turn 65, you will need to apply for Medicare benefits three months before you turn 65. If you don’t sign up for Medicare Part B when you’re first eligible, you may have to pay a late enrollment penalty for as long as you have Medicare coverage. C. You can continue working and not receive your retirement benefitsIf you decide to continue working and not start your benefits until after full retirement age, your benefits will increase for each month you do not receive them until you reach age 70. There is no incentive to delay filing for your benefits after age 70. Continuing to work may also increase your benefits, because your current earnings could replace an earlier year of lower or no earnings, which can result in a higher benefit amount. If you are not receiving your Social Security benefits when you turn 65, you will need to apply for Original Medicare (Part A and Part B) three months before you turn 65. If you don’t sign up for Medicare Part B when you’re first eligible at age 65, you may have to pay a late enrollment penalty for as long as you have Medicare coverage. However, if you or your spouse are still working and covered under an employer-provided group health plan, talk to your personnel office before signing up for Medicare Part B. Once the covered employment ends, you may be eligible for a Special Enrollment Period to sign up for Part B. If so, you won’t have to pay a late enrollment penalty. D. You can stop working and not begin receiving your retirement benefitsDeciding not to start your retirement benefits can make sense if you have other sources of income. If you stop working, your benefits will not increase because of additional earnings. We calculate your benefits based on your highest 35 years of earnings. If you stop working before you have 35 years of earnings, or you have low earnings for some years, this will affect your benefit calculation. However, if you wait to start benefits after you reach full retirement age, your benefits will increase for each month you do not receive them until you reach age 70. There is no incentive to delay filing for your benefits after age 70. If you are not receiving your Social Security benefits when you turn 65, you will need to apply for Original Medicare (Part A and Part B) three months before you turn 65. If you don’t sign up for Medicare Part B when you’re first eligible at age 65, you may have to pay a late enrollment penalty for as long as you have Medicare coverage. How far in advance do I need to apply for Social Security benefits age 66?You should apply for retirement benefits four months before you want your benefits to start. The easiest and most convenient way to apply for retirement benefits is by using our online application. You will need to create or log in to your personal my Social Security account.
What does 66 and 2 months mean for Social Security?If you start receiving benefits at age 66 and 2 months you get 100 percent of your monthly benefit. If you delay receiving retirement benefits until after your full retirement age, your monthly benefit continues to increase.
How long does it take to receive your first Social Security payment?Generally, if your application for Social Security Disability Insurance (SSDI) is approved, you must wait five months before you can receive your first SSDI benefit payment. This means you would receive your first payment in the sixth full month after the date we find that your disability began.
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When should i apply for social security when i turn 66 and 2 months
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