Social Security benefits are part of the retirement plan of almost every American worker. If you’re among the many people covered under Social Security, you should know what your future benefit may be. These monthly payments are likely to be an important part of your retirement income.
We base your benefit payment on how much you earned during your working career. Higher lifetime earnings result in higher benefits. If there were some years you didn’t work or had low earnings, your benefit amount may be lower than if you had worked steadily. Even if you never worked and did not pay Social Security taxes, you may be eligible for spouse’s retirement benefits. You must be at least 62 years old, and your spouse must already be receiving retirement or disability benefits.
Our online retirement portal at www.ssa.gov/retirement is a great place to start mapping out your retirement plan. For example, have you considered: · What is the right time for you to start receiving your retirement benefits?
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