Can I suspend Social Security benefits after reaching FRA to return to full-time work?
I reached my full retirement age last fall and started collecting Social Security right away. Now, I've got an unexpected job offer that would put me back to work full-time with good benefits and salary. I'm wondering if I should (or even can) pause my Social Security payments while I'm working? Does anyone know if there are advantages to suspending benefits at this point? I've heard about something called 'voluntary suspension' but I'm not clear on how it works or if it would benefit me financially. Would my future benefit amount increase if I suspend now? Any experience or knowledge about this would be really helpful!
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Lena Kowalski
Yes, you absolutely can suspend your benefits after reaching FRA! This is called a 'voluntary suspension' and it can be very advantageous. Your benefit will earn Delayed Retirement Credits (DRCs) of 8% per year (2/3% per month) while suspended, up until age 70. When you restart, your monthly amount will be permanently higher. You can call SSA at 1-800-772-1213 to request the suspension, or visit your local office. Keep in mind though, if you suspend your benefits, anyone receiving benefits on your record (like a spouse) will also have their benefits suspended, except for divorced spouses.
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Toot-n-Mighty
•Thank you for explaining this! The 8% annual increase sounds really good. But I'm confused about one thing - would suspending mean I'd have to return the SS payments I've already received since reaching FRA? Or does it just stop future payments?
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DeShawn Washington
I went through this exact situation last year! I suspended my benefits at 66 (my FRA) when I got a consulting opportunity. The process was super simple - just called SSA and told them I wanted to suspend. I didn't have to return any benefits I'd already received. The only downside was trying to get through to SSA on the phone - took forever! But the agent was really helpful once I got someone. My plan is to leave benefits suspended until 70 for that sweet 32% increase.
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Toot-n-Mighty
•That's reassuring to hear about your experience! Do you remember how long it took for the suspension to take effect? I'm planning to start this new job in about 3 weeks, so I'm wondering about timing.
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Mei-Ling Chen
WARNING: Be careful suspending benefits!! My neighbor did this and then had NO INCOME for 2 months because SSA messed up the suspension date!! They also suspended his Medicare and he had to PAY OUT OF POCKET for a hospital visit!!! The system is BROKEN and they don't care about us seniors!!!
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Lena Kowalski
•Just to clarify - suspending Social Security benefits doesn't affect Medicare coverage. Your neighbor may have experienced an administrative error, but that's not how the system is designed to work. Medicare enrollment stays active during benefit suspension as long as the premiums continue to be paid (either directly or through deduction from a bank account instead of the SS payment).
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Sofía Rodríguez
So here's something most people don't think about with voluntary suspension - you need to figure out how to pay your Medicare premiums! They're usually deducted from your SS check, but if you suspend, you'll get a quarterly bill from Medicare instead. I had to set up automatic payments to make sure I didn't miss any. Also, do the math on the break-even point - I calculated that I needed to live until about 82 for the suspension to pay off financially in my case.
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Toot-n-Mighty
•That's a really good point about Medicare premiums! I hadn't thought about that at all. And calculating a break-even point makes a lot of sense too - I'll have to look at the numbers carefully.
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Aiden O'Connor
i did this 2 yrs ago works great more $$ when i turn 70 next yr but my wife was getting spousal so she lost that when i suspended just fyi if ur married
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Toot-n-Mighty
•Thanks for sharing your experience. I'm not married so that particular issue won't affect me, but it's good info for others reading this thread.
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Zoe Papadopoulos
When I tried calling about this last year, I was on hold for 3+ hours and then got disconnected! I finally used Claimyr (claimyr.com) to get through - they call SSA and when they reach an agent, they connect you. Saved me hours of waiting. They have a video showing how it works at https://youtu.be/Z-BRbJw3puU. Much easier than waiting on hold all day!
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Jamal Brown
•is that service expensive? seems weird to pay just to talk to social security
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Zoe Papadopoulos
It was worth every penny to me. I tried calling SSA five times before using it and never got through. The service saved me a day of frustration, and the agent I spoke with immediately processed my suspension request.
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Toot-n-Mighty
•Thanks for the tip. I might try calling myself first, but it's good to know there's an option if I can't get through. The hold times with SSA are notoriously bad.
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Sofía Rodríguez
One more thing to consider - if you're going back to work full-time with benefits, check if they offer a 401(k) match or other retirement benefits. Since you're suspending SS and working, you can potentially max out retirement contributions again, which gives you another financial advantage. The combo of DRCs plus additional retirement savings can make a huge difference in long-term financial security.
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Jamal Brown
my brother tried suspending and said it was a nightmare to restart. took him like 4 months to get payments going again when he turned 70. just something to think about...
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DeShawn Washington
•That's unusual - mine restarted automatically when I hit 70. Maybe your brother's situation had some complicating factors? The system is supposed to automatically restart benefits at 70 even if you forget to contact them.
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Toot-n-Mighty
Update: I called SSA this morning (waited about 45 minutes) and got some helpful info. The agent confirmed I can suspend anytime after FRA, and my benefits will grow by 2/3% every month they're suspended. She also mentioned that if I earn enough at my new job, I could potentially increase my benefit amount that way too because they'll recalculate based on my new earnings if they're higher than what was previously used. So it's like a double advantage! Thanks everyone for your helpful advice!
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