Why You Should Take Advantage of Retirement Social Security Benefits

By Lawole Johnny

The retirement age is the main element that influences the access to the social security benefits. Thus, there are several categories of retirees, some who were born before 1932 and retired at 65, others born between 1938 and 1943, with the retirement age set at 66, and finally another group of people born starting with the 60s who have the retirement age set at 67 years of age. Social security benefits will diminish with several percents if you chose to retire before time.

The same rule applies for delayed retirement too when the employee can increase the number of social security benefits with several credits, that can be then used by the spouse in case of death. According to US law, a worker's spouse and children can use the social security benefits, according to a regulation passed in 2000. In case of death, even divorced spouses can receive social security benefits. Disabled people can also receive various disability benefits when they have a long enough work history.

A legal hearing is usually appointed before determining whether the disabled will receive social security benefits or not. The number of applications for social security benefits is incredibly large which often makes it difficult for the Administrative Law Judges to cope with the hearings. Sometimes, it may take up to ninety days before a request is solved in a hearing. Yet, waiting times can increase up to eighteen months in some parts of the country, and such cases are the least fortunate of all.

A higher monthly revenue and a tax-free income, such are the social security benefits that one aims at. While you receive disability services you are not counted as employed. Moreover, you should know that the amount of money you get per month depends on your average earnings during a determined period of time, such as the last 30 years. A problem these years is the increase of the number of applications for social security benefits due to the world financial crisis.

The system is already put under pressure because of the recession, and it now suffers the burden of increasing numbers of retirees. In fact, there are 150,000 more applications for social security benefits filed every year. During the recession, the elderly have troubles finding a job, and therefore, social security benefits become a safety net. Someone who closes retirement will hardly be interested in more education or be able to continue work once he/she has become unemployed. - 23204

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