Is Social Security Retirement Prorated?

Q: If starting retirement at age 62, is Social Security prorated for the days that I am 62?

A: Social Security benefits are not prorated. You are either eligible for the complete month or not at all. For retirement, you must be at least age 62 through the entire month to receive benefits for that month.

A person reaching age 62 during a month is usually not age 62 for the entire month so benefits can first be received starting for the next month. This applies only in the actual month a person reaches age 62. For all following months they are at least age 62 all month.

Based the day of birth in a month, Social Security retirement might be payable for the month a person reaches age 62 because a person born on the first of the month is considered age 62 the entire month. For example, someone born on July 14 is not age 62 for the full month until August. Someone born on July 1 is age 62 for the entire month of July and can receive benefits for July.

Related to this, Social Security for a month is paid the following month so payment for July is received in August. Retirement payment dates are usually the second, third or fourth Wednesday based on your birthdate. The 2016 payment schedule is at www.ssa.gov/pubs/EN-05-10031-2016.pdf.

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