Social Security filing timeline confusion - apply at 65 or wait until FRA at 67?

you dont need to tell them anything now. just apply when ur ready to get benefits. i waited til 68 to start mine and just applied online when i was ready. took like 15 minutes

I work for a financial planning firm, and this is a question we get frequently. You don't need to notify SSA of anything at age 65. The only exception is Medicare - you should apply for Medicare Part A and Part B three months before your 65th birthday to avoid late enrollment penalties, unless you have creditable employer coverage. For retirement benefits, you can simply apply when you're ready to receive them. The system is designed to accommodate applications at any point from age 62 onward. By waiting until 70, you'll receive 124% of your FRA benefit amount due to delayed retirement credits of 8% per year after FRA. One thing to consider: if you're still working, there's an earnings test before FRA that could reduce benefits if you claim early. After FRA, there's no earnings limit.

I turned 65 last year and was panicking about the same thing!! The SS office was NO help when I called. Got disconnected 3 times after waiting on hold for over an hour each time. Finally my sister told me I didn't need to do anything until I was ready to claim. I'm planning to wait until 68 probably.

To add some clarity to your question: 1. You do NOT need to notify SSA of your intention to delay retirement benefits. Their system is designed with the assumption that people will apply when they want benefits to begin. 2. Medicare is completely separate from retirement benefits. You should apply for Medicare at age 65 regardless of when you plan to take retirement benefits (unless you have qualifying employer coverage). 3. When you do decide to apply (whether at FRA or at 70), you'll simply complete the application and benefits will be calculated with all applicable delayed retirement credits automatically applied. 4. If you wait until 70, you'll receive your maximum possible benefit (approximately 124% of your FRA amount). There's no advantage to waiting beyond 70. 5. "Restricted applications" no longer apply to most people born after 1953, so your neighbor's advice is likely outdated or doesn't apply to your situation. Hope this helps clarify things!

I waited till 69 to file. BIG MISTAKE!!!! SSA only pays 6 months retroactive benefits MAX!!! So I lost 6 months of payments I could have gotten if somebody had told me this!!! Make sure you file NO LATER than 6 months after whenever you decide you want benefits to start!!!

Hiya! I just went through this whole thing last year. For me, I was confused between Medicare and SS retirement - they're totally different! Signed up for Medicare at 65 (do this!!!) but I'm waiting till 69 probably for the SS payments. My husband's still working so we don't need the money yet. When I called they said I can just call whenever I'm ready to start. No paperwork needed now. Also my neighbor said be careful about working while collecting before FRA, apparently there's some complicated earnings limit but after FRA you can earn whatever you want?

Wow, I'm blown away by all the helpful responses! Thank you everyone. So to summarize what I've learned: 1. I don't need to notify SSA about delaying retirement benefits 2. I SHOULD apply for Medicare now (will do that this week) 3. When I decide to collect (probably at 70), I just apply then 4. There's an earnings limit before FRA but not after 5. I need to be aware of the 6-month retroactivity limit This forum has been so much more helpful than the official SSA website! I feel much better informed now.