Anyone else rethinking Social Security timing?

[LARS]

Just turning sixty eight. Plan all along was to wait to seventy to apply for SS. Lately, given all the uncertainty surrounding SS, and the changes the current Administration is trying to implement vis a vis cost savings in general, I have been debating applying now.

Still on the fence, but curious what others are thinking.

P.S. I have said if current Administration makes SS payments exempt from tax I would immediately file.

 

[RetiredHappy]

Maybe SS checks will be bigger with reduction of government expenses.

I just got my SS check at 62 last month. My spouse started his at 70. We are covered.

 

[audreyh1]

If you check on opensocialsecurity.com you’ll see that at this point it may make little difference over your lifetime. Or maybe it does. It affects your spouse surviving benefits too, so maybe that matters.

DH is turning 70 soon and applied in Jan.

I haven’t reached SS FRA yet and am still waiting.

 

[pb4uski]

Maybe SS checks will be bigger with reduction of government expenses.

No, SS is ring-fenced so any reduction of in general fund expenses will have no impact on SS. Eliminating taxes on SS would adversely impact SS in that income taxes on SS are deposited into the SS Trust Fund.

 

[pb4uski]

I'm turning 70 later this year and am rethinking waiting to apply as well... not because I'm concerned about the benefits being changed but more about there being employeees at the SSA to handle my application for benefits if it requires any manual intervention.

 

[RetiredHappy]

No, SS is ring-fenced so any reduction of in general fund expenses will have no impact on SS. Eliminating taxes on SS would adversely impact SS in that income taxes on SS are deposited into the SS Trust Fund.

My remark was tongue in cheek.

 

[AudiDudi]

Too late for us. DW took it at 62, I took spousal at 66 and mine at 70. If I had to do it over, I'd do the same thing.

 

[Gallaher]

Tell me how long you will live and I’ll tell you when to draw SS

 

[Tekward]

I applied last November after the election (not getting political - please abide ) because part of my delay strategy was IRA to Roth conversions based upon my pessimistic view of government debt & future tax rates. It's a lot harder to project into the future now. Time will tell, but no regrets so far .
Feel free to delete this if does trigger politics.

 

[Pointby2]

Recent SSA Workforce Numbers:​

• 2023: ~61,000 employees
• 2022: ~56,907 employees (lowest in decades)
• 2013: ~59,823 employees
• 1995: ~62,504 employees

As of January 2025, the Social Security Administration (SSA) employs approximately 61,153 individuals.
Other than the 1,800 probationary employees that were cut, it has not been disclosed how many persons in the SSA have taken the early resignation option.

 

[RunningBum]

I applied last November after the election (not getting political - please abide ) because part of my delay strategy was IRA to Roth conversions based upon my pessimistic view of government debt & future tax rates. It's a lot harder to project into the future now. Time will tell, but no regrets so far .
Feel free to delete this if does trigger politics.

I'm not quite certain or pessimistic enough yet, so I'll continue to defer SS while on the ACA with subsidy. There's now a better chance I'll start at age 65 and 2 months in 2027.

 

[AudiDudi]

Recent SSA Workforce Numbers:​

• 2023: ~61,000 employees
• 2022: ~56,907 employees (lowest in decades)
• 2013: ~59,823 employees
• 1995: ~62,504 employees

As of January 2025, the Social Security Administration (SSA) employs approximately 61,153 individuals.
Other than the 1,800 probationary employees that were cut, it has not been disclosed how many persons in the SSA have taken the early resignation option.

One might think that with the use of computers, they might be more efficient and not need so many employees.

 

[Dtail]

Latest plan is to take SS at age 66 next year. Won't affect total spending. Just taking some pressure off the portfolio.

 

[Aerides]

Recent SSA Workforce Numbers:​

• 2023: ~61,000 employees
• 2022: ~56,907 employees (lowest in decades)
• 2013: ~59,823 employees
• 1995: ~62,504 employees

As of January 2025, the Social Security Administration (SSA) employs approximately 61,153 individuals.
Other than the 1,800 probationary employees that were cut, it has not been disclosed how many persons in the SSA have taken the early resignation option.

Given the size of the boomer generation, I'd hazard a guess that the number of people taking SS currently well exceed the number in 1995. Of course, systems may be better automated, but I don't know if that offsets the amount of handling-per-claimant, especially first timers.

As far as when to take, I would not time it based on whomever is in the Executive. If they are going to make it better or worse, it will no doubt impact those on it or those not yet on it.

 

[Sunset]

If SS gets cancelled, I'll really miss not having taken it early.

 

[2HOTinPHX]

One might think that with the use of computers, they might be more efficient and not need so many employees.

From 1994 to 2024: The number of beneficiaries grew by about 25.6 million, marking a 60% increase over 30 years.

I hear their systems are really outdated.

 

[Sunset]

From 1994 to 2024: The number of beneficiaries grew by about 25.6 million, marking a 60% increase over 30 years.

The size of workforce doesn't see so large, considering every time a person has a problem, a computer cannot handle it.
Their customers, are often not computer literate,
Plus the just the sign-in process itself has become a giant PIA for anyone wanting to sign up.

I do think the SS workers should work at the office, otherwise how the heck is someone supposed to visit them to get something fixed. Not all jobs can be work from home, same as plumbers

 

[2HOTinPHX]

The size of workforce doesn't see so large, considering every time a person has a problem, a computer cannot handle it.
Their customers, are often not computer literate,
Plus the just the sign-in process itself has become a giant PIA for anyone wanting to sign up.

I do think the SS workers should work at the office, otherwise how the heck is someone supposed to visit them to get something fixed. Not all jobs can be work from home, same as plumbers

I imagine not all SS jobs require workers deal with people in person. Of course those that do to work in person with people need to work in the office.

 

[pb4uski]

My remark was tongue in cheek.

I realize that but a lot of people are unaware that SS is ring fenced in a trust fund so the general fund taxes and budget have no impact on SS.

 

[pb4uski]

If SS gets cancelled, I'll really miss not having taken it early.

Gets cancelled? Seriously? Definitely the silliest post ever on this forum.

I suspect that you know that will never happen in our lifetimes but there are people out there that might believe it is possible.

 

[AudiDudi]

From 1994 to 2024: The number of beneficiaries grew by about 25.6 million, marking a 60% increase over 30 years.

I hear their systems are really outdated.

If it is anything like the IRS, they are still using cobbled together COBOL databases mostly designed in the 60's.

 

[Mark1]

I have been debating applying now.

Once you reach FRA, I thought applying mid-year cost you some benefits (although I guess applying for a Feb start date might not cost you much if that is still possible?).

DW is planning on starting in January 2026, so I hope any manpower issues are resolved by then.

 

[Pointby2]

A significant portion of SSA's systems were built using COBOL, which dates back to the 1960s. This legacy software underpins many of SSA's critical functions, including benefits processing and record-keeping.

In 2020, SSA released an IT Modernization Plan Update outlining strategies to update its systems.

As of today, most of the legacy systems remain operational, and the transition to more modern platforms is still in progress.

 

[FlaMariner]

I plan to get it the first second I can....I've learned on here that it is not when you turn 62 but looks like when I turn 62 and 48 days....or some fraction after turning 62.

I so wish I could have opted out at 18.

 

[Al18]

Don’t change your SS plans based on politics, base it on your own plan.

Over the past few years, I have noticed a subtle change from Financial Planners on YouTube, recommending claiming between FRA and 70, depending on your finances.