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Can I suspend my Social Security?
08-03-2021, 08:00 AM
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#1
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Full time employment: Posting here.
Join Date: Apr 2016
Location: warren
Posts: 935
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Can I suspend my Social Security?
I'm 64 and started taking SS at 62. Can I suspend my payments for a few years? I think I've read in a past post you could suspend payments but have to repay what you've already received? Not sure I'd want to do that but it's possible.
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08-03-2021, 08:19 AM
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#2
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Thinks s/he gets paid by the post
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,455
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According to this article from AARP: https://www.aarp.org/retirement/soci...k-to-work.html, you have to pay back everything - bummer.
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May we live in peace and harmony and be free from all human sufferings.
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08-03-2021, 08:22 AM
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#3
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2008
Location: NC
Posts: 21,148
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You would have to repay and you could "suspend" years ago, but not anymore if you're 64 and starting taking SS at 62.
Quote:
Timing is key. Social Security will let you withdraw your original application for retirement benefits only once, and it must be within 12 months of the date you first claimed your benefits.
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__________________
No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57
Target AA: 50% equity funds / 45% bonds / 5% cash
Target WR: Approx 1.5% Approx 20% SI (secure income, SS only)
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08-03-2021, 08:23 AM
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#4
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Thinks s/he gets paid by the post
Join Date: Aug 2012
Posts: 1,821
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Quote:
Originally Posted by garyt
I'm 64 and started taking SS at 62. Can I suspend my payments for a few years? I think I've read in a past post you could suspend payments but have to repay what you've already received? Not sure I'd want to do that but it's possible.
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No. had to be done within the first 12 months of receiving benefits.
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Can I suspend my Social Security?
08-03-2021, 08:24 AM
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#5
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gone traveling
Join Date: Oct 2019
Posts: 195
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Can I suspend my Social Security?
Social Security gives you a grace timeline when you first sign up.
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08-03-2021, 09:23 AM
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#6
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Thinks s/he gets paid by the post
Join Date: Jun 2010
Posts: 2,130
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When you reach full retirement age you can suspend payments. However, you can no longer pay back payments. Suspending at FRA and then waiting until 70 to refile will allow DRCs to accrue.
https://www.ssa.gov/benefits/retirem...r/suspend.html
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And whatever your labors and aspirations in the noisy confusion of life, keep peace in your soul. With all its sham, drudgery, and broken dreams, it is still a beautiful world. Be cheerful. Strive to be happy.- Desiderata by Max Ehrmann
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08-03-2021, 11:22 AM
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#7
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Full time employment: Posting here.
Join Date: Nov 2015
Posts: 685
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Quote:
Originally Posted by MissMolly
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This is the correct answer. Some misinformation in the thread.
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08-03-2021, 02:24 PM
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#8
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2007
Posts: 9,940
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Quote:
Originally Posted by teej1985
This is the correct answer. Some misinformation in the thread.
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What exactly is misinformation? Just in case somebody reading here wants to know. the article Spanky clicked to is up to date..
if somebody shows a link and the readers don't click on and read it, that's on them.
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08-03-2021, 03:01 PM
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#9
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Full time employment: Posting here.
Join Date: Apr 2016
Location: warren
Posts: 935
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Thanks for the replies, very helpful. I'll just keep getting the payments.
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08-03-2021, 03:19 PM
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#10
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Thinks s/he gets paid by the post
Join Date: Jun 2010
Posts: 2,130
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Quote:
Originally Posted by ivinsfan
What exactly is misinformation? Just in case somebody reading here wants to know. the article Spanky clicked to is up to date..
if somebody shows a link and the readers don't click on and read it, that's on them.
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The article Spanky linked is about withdrawing the application. The OP asked about suspending the application. They are two different things. You can indeed suspend at full retirement age unlike several of the responses. My link was to the actual SS website. Can't get any more official then that.
__________________
And whatever your labors and aspirations in the noisy confusion of life, keep peace in your soul. With all its sham, drudgery, and broken dreams, it is still a beautiful world. Be cheerful. Strive to be happy.- Desiderata by Max Ehrmann
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08-03-2021, 03:27 PM
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#11
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2007
Posts: 9,940
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Quote:
Originally Posted by MissMolly
The article Spanky linked is about withdrawing the application. The OP asked about suspending the application. They are two different things. You can indeed suspend at full retirement age unlike several of the responses. My link was to the actual SS website. Can't get any more official then that.
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Right it's complicated the op did askabout suspending and ask if they had to payback money back .....I think the confusion started in the original post. Thanks to your answer the difference is now clear
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08-03-2021, 11:21 PM
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#12
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Thinks s/he gets paid by the post
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,455
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Quote:
Originally Posted by MissMolly
The article Spanky linked is about withdrawing the application. The OP asked about suspending the application. They are two different things. You can indeed suspend at full retirement age unlike several of the responses. My link was to the actual SS website. Can't get any more official then that.
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That articles also addresses suspending:
"If you’ve been getting retirement benefits for more than a year, the window for withdrawal has closed. However, once you reach full retirement age (currently 66 and 2 months and gradually rising to 67), there’s a second option: You can request a suspension of benefits."
OP has to wait two more years.
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