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Does it matter what month you take social security?
Old 09-19-2021, 05:10 AM   #1
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Does it matter what month you take social security?

Specifically is there some benefit to starting in December versus January? I have a vague recollection someone once posted there was but can not find it anywhere. Something about cost of living adjustment I think

I know the amount increases the longer you wait until you are 70 this isnít about whether to take it early just should I rush to apply for December

Thank you
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Old 09-19-2021, 06:57 AM   #2
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Good question. Would either start date get the benefit of the estimated 5% COL increase?
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Old 09-19-2021, 07:04 AM   #3
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The increased benefits of Social Security are calculated monthly and you will a small percentage more in January than the prior December just for waiting an extra month to claim. If you claim in January, your first ck will arrive in February. COLA's are effective for the January payment following the increase(payment arrives in February).
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Old 09-19-2021, 07:04 AM   #4
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If you are filing at any point between full retirement age and age 70, and you file to start in any month other than January, Delayed Retirement Credits (DRC) will not be applied until the following January. All benefits will get the added COLA whether you have taken your benefit or not as long as you are 62.
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Old 09-19-2021, 07:19 AM   #5
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Originally Posted by MissMolly View Post
If you are filing at any point between full retirement age and age 70, and you file to start in any month other than January, Delayed Retirement Credits (DRC) will not be applied until the following January. All benefits will get the added COLA whether you have taken your benefit or not as long as you are 62.
this is what I was thinking of but It sounds like if someone applies for December it would affect December and then right itself in January and Starting January would be fine but starting in February would have a downside. Also I think this doesnít apply to me because I havenít reached full retirement age? Is there any corresponding concern for my situation?

Thank you Miss Molly
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Old 09-19-2021, 08:09 AM   #6
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this is what I was thinking of but It sounds like if someone applies for December it would affect December and then right itself in January and Starting January would be fine but starting in February would have a downside. Also I think this doesnít apply to me because I havenít reached full retirement age? Is there any corresponding concern for my situation?

Thank you Miss Molly
If you file prior to full retirement age then DRCs do not apply.
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Old 09-19-2021, 08:11 AM   #7
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Here's the POMS on DRC credit:

https://secure.ssa.gov/apps10/poms.nsf/lnx/0300615690
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Old 09-19-2021, 08:14 AM   #8
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Originally Posted by MissMolly View Post
If you are filing at any point between full retirement age and age 70, and you file to start in any month other than January, Delayed Retirement Credits (DRC) will not be applied until the following January. All benefits will get the added COLA whether you have taken your benefit or not as long as you are 62.
What about AT age 70? That's my current plan.
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Old 09-19-2021, 08:21 AM   #9
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What about AT age 70? That's my current plan.
At age 70 you get all your DRCs applied immediately. No waiting until January of the following year.
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Old 09-19-2021, 08:24 AM   #10
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Good Golly, MissMolly, you are the best!

Is one ever made whole if they claim between FRA and 70 (not in Jan)?
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Old 09-19-2021, 08:51 AM   #11
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Good Golly, MissMolly, you are the best!

Is one ever made whole if they claim between FRA and 70 (not in Jan)?
I am not positive, but I pretty sure the answer is no.
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Old 09-19-2021, 09:37 AM   #12
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My FRA was this past May I was planning on waiting until next May to file, and was counting on the 8% extra that I've read you get by waiting each year past FRA.


Are you saying I have to wait another year to receive this?
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Old 09-19-2021, 10:06 AM   #13
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My FRA was this past May I was planning on waiting until next May to file, and was counting on the 8% extra that I've read you get by waiting each year past FRA.


Are you saying I have to wait another year to receive this?
What I am saying is DRCs are only applied in January of each year (except when file in your birth month at age 70). If you are over FRA but not age 70 and you file in May 2022, your DRCs from May 2021 to Dec 2021 will be applied in January 2022, so you will receive those. Your DRCs from January 2022 to May 2022 will be applied in January 2023.

Maybe this will help https://www.ssa.gov/OP_Home/cfr20/404/404-0313.htm
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Old 09-19-2021, 10:19 AM   #14
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I'm confused. If you are waiting til after FRA to claim, should you claim in January?
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Old 09-19-2021, 10:21 AM   #15
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I'm confused. If you are waiting til after FRA to claim, should you claim in January?
If you want to get all your up-to-date earned DRCs, then yes.
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Old 09-19-2021, 10:21 AM   #16
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What I am saying is DRCs are only applied in January of each year (except when file in your birth month at age 70). If you are over FRA but not age 70 and you file in May 2022, your DRCs from May 2021 to Dec 2021 will be applied in January 2022, so you will receive those. Your DRCs from January 2022 to May 2022 will be applied in January 2023.

Maybe this will help https://www.ssa.gov/OP_Home/cfr20/404/404-0313.htm

Got it..Thanks
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Old 09-19-2021, 10:38 AM   #17
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I think I understand (read the ssa info too).

Please tell me if I'm wrong:

Suppose I'm 69 in October this year and I claim SS when I'm 69 in October.

I would get delayed credits up to January of this year for delaying until 68.25 (age in Jan).
Payment would be for Oct -> Dec based on the DRC of 68.25
Then January next year payments would be based on DRC of 69.

I would actually miss out on the extra amount for the months of Oct -> Dec of this year, since they didn't consider I was really .75 yrs older.
They won't send me a "make up" check for the amount missed for the 3 months.
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Old 09-19-2021, 10:48 AM   #18
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If you want to get all your up-to-date earned DRCs, then yes.
Sorry to be so dense. My birthday is in June and I was planning to wait til I was 70. Do I claim in January of that year (i.e. 69 1/2), January of the next year (i.e. 70 1/2) or June (70).
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Old 09-19-2021, 11:16 AM   #19
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Sorry to be so dense. My birthday is in June and I was planning to wait til I was 70. Do I claim in January of that year (i.e. 69 1/2), January of the next year (i.e. 70 1/2) or June (70).
The SS document says if you apply at age 70, they calculate all your DRC up to age 70 when you apply.

You would claim for age 70, you can start the process before age 70, but be sure to tell SS , the effective date is 70.
Some SS workers will "give" you a "bonus" by backdating your application 6 months, making your effective claim 69.5 , which is not a bonus as now you get reduced benefits for life.

IF I'm wrong, folks let me know as this is my plan so far too.
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Old 09-19-2021, 12:35 PM   #20
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I think I understand (read the ssa info too).

Please tell me if I'm wrong:

Suppose I'm 69 in October this year and I claim SS when I'm 69 in October.

I would get delayed credits up to January of this year for delaying until 68.25 (age in Jan).
Payment would be for Oct -> Dec based on the DRC of 68.25
Then January next year payments would be based on DRC of 69.

I would actually miss out on the extra amount for the months of Oct -> Dec of this year, since they didn't consider I was really .75 yrs older.
They won't send me a "make up" check for the amount missed for the 3 months.


You got it.
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