Understanding when your entitlement to old-age Social Security benefits begins and ends is crucial for effectively planning your retirement.
This blog post will outline the rules specified in § 404.311, providing you with the knowledge you need to make informed decisions regarding your benefits and retirement timeline.
When Old-Age Benefit Entitlement Begins:
- Attained Full Retirement Age: If you have reached your full retirement age (as defined in § 404.409) and meet all the requirements for entitlement, your old-age benefits will begin with the first month covered by your application.
- Attained Age 62, but Not Full Retirement Age: If you are at least 62 years old but have not yet reached your full retirement age (as defined in § 404.409) and meet all the requirements for entitlement, your old-age benefits will start with the first month covered by your application throughout which you meet all the requirements for entitlement.
When Old-Age Benefit Entitlement Ends:
Your entitlement to old-age benefits will end with the month before the month you die. This means that no benefits will be payable for the month of your death.
Example: Robert is 66 years old and has reached his full retirement age as defined in § 404.409. He has been working for over 40 years, making him fully insured for old-age Social Security benefits. In June 2023, Robert decides to retire and applies for his old-age benefits.
Since Robert has attained his full retirement age and meets all requirements for entitlement, his old-age benefits will begin with the first month covered by his application, which is June 2023.
Robert enjoys his retirement for several years. Unfortunately, he passes away in September 2030. According to § 404.311, Robert’s entitlement to old-age benefits will end with the month before the month he dies. This means that his benefits will be payable through August 2030, but no benefits will be paid for September 2030, the month of his death.
Conclusion: Being well-informed about when your entitlement to old-age Social Security benefits begins and ends is essential for a successful retirement plan. By familiarizing yourself with the guidelines outlined in § 404.311, you can make the best decisions for your financial future and ensure that you are prepared for your retirement years.
https://www.ssa.gov/OP_Home/cfr20/404/404-0311.htm
At Hugo Fierro & Michael Perez, our team of experts is dedicated to providing comprehensive guidance and support in navigating the complexities of your Social Security Disability claim. Our commitment to client service ensures that you gain a thorough understanding of the process, empowering you to make informed decisions at each step of your journey.