Financial Assistance After Retirement: Social Security and Beyond
Social Security Retirement Benefits
Many retirees rely on Social Security retirement benefits, though in order to qualify, you must have worked and paid Social Security taxes in the past. The amount you can receive each month depends on how much you worked and the amount you paid in taxes in the past. You can request a statement online to find out how much you'll receive when you retire https://secure.ssa.gov/apps6z/isss/main.html or telephone the Social Security Administration at 800-772-1213 to ask for a statement.
Supplemental Security Income
Supplemental Security Income provides monthly payments to some retirees that don't qualify for Social Security retirement benefits. In order to qualify, you must have low income and limited resources such as savings. If you're married, your spouse's income will also be taken into consideration. Apply at your local Social Security Administration office https://secure.ssa.gov/apps6z/FOLO/fo001.jsp .
Pensions and Retirement Funds
Some retirees have pensions or retirement funds from their past employers. However, it seems people tend to stay at jobs for shorter amounts of time these days than in the past, so they may accumulate less money in retirement funds. Such funds do help supplement Social Security retirement benefits for a number of retirees, though. Contact your fund if you need information about when you'll begin to receive benefits and how much you will receive.
Welfare Benefits
Welfare benefits for which retirees may qualify, if they have low incomes and limited assets, include food stamps, Medicaid, assistance with utility bills, assistance with transportation and help with rent. Apply for most welfare benefits at the welfare office in your county, but apply for housing assistance at your local public housing agency http://www.hud.gov/offices/pih/pha/contacts/ .
Sources:
Iowa State University Extension. http://www.extension.iastate.edu/publications/pm1818b.pdf . Retirement.
Social Security Administration. http://www.socialsecurity.gov/retire2/ . Plan Your.
Social Security Administration. http://www.ssa.gov/ssi/ . Supplemental Security Income (SSI).
Published by Kelly Morris
I am a former social worker and in that capacity, worked with teens and their families to address issues like domestic violence and school violence. I now make my living as a freelance writer. My work has... View profile
- Missing Your Economic Stimulus Payment? Check Name on Social Security CardThousands of married couples were denied their Economic Stimulus Payment because a spouse's maiden name was still on their Social Security Card.
Social Security to Head SouthAn agreement was signed in 2004 by the U.S Commissioner of Social Security and the director general of the Social Security Institute of Mexico to give illegal aliens the option...- Don't Let the Name Fool You, Social Security is Anything ButTwo thirds of Social Security Disability applications are automatically denied without regard to the severity of the applicant's illness.
- Social Security Beneficiaries and Their BenefitsAn explanation of the individuals who can receive Social Security benefits and when they can receive them.
- Guide to Social Security Benefits and Mental IllnessThis is a guide to Social Security benefits and Mental Illness. It is based off of my own personal experience with the Social Security Administration and the benefits that are available.
- Social Security Calculator Now Available
- How Do You Apply for Social Security Retirement Benefits Online?
- Changes in Social Security
- Social Security - an Overview
- What are the Requirements to Receive Social Security Retirement Benefits?
- How and When Can You Apply for Social Security Retirement Benefits?
- Using the Social Security Death Index for Genealogy Research