How to Get Social Security Benefits?

If you haven't started to collect Social Security benefits, it's a good idea to check with the Social Security Administration to see what's coming to you. This will ensure that all your earnings (your wages and self-employment income) have been properly credited to you. If you wait too long to correct a mistake (generally more than about three years), you're out of luck.

The Social Security Administration can also give you an idea of what you can expect in the way of a monthly check after you retire (and what your spouse will be entitled to). The formula, which is based on what you earned and how long you worked, used to figure your benefits is very complicated. You're better off letting the government work it out for you.

At any age, you can receive a free benefit estimate statement showing what you've contributed over the years and what your anticipated benefit will be at retirement. To get your benefit estimate statement, file Form SSA-7004. You can receive Form SSA-7004 at your local Social Security office or by calling the Social Security Administration at 800-SSA-1213.

The only information you need to provide is:

• Your name (and all other names you may have worked under, such as a maiden name)

• Your Social Security number (and any other Social Security numbers you may have used)

• Your date of birth

• Your sex

• Your actual earnings for last year (wages and/or net earnings from self-employment income)

• Your estimated earnings for this year

• The age at which you plan to stop working and begin to collect benefits

• The average yearly amount that you expect to earn between now and retirement. Do not give the total earnings you expect to receive during this period only the annual earnings. In making an estimate, factor in cost-of-living, performance or scheduled pay increases, or bonuses.

• The address where you want the statement sent (probably your home address)

Sign and date the form in the space provided and enter your daytime telephone number (including the area code).

It usually takes several weeks to receive your statement. Your monthly benefits are based on your primary insurance amount (PIA), which is the full Social Security benefit payable at age 65. Your PIA depends on how much you earned over your working years. There's a maximum PIA, which is based on the wage base limit in effect each year. However, you may have earned less than the limit in some or all years. In this case, your PIA is below the maximum PIA. Again, don't try to figure exactly what your PIA is; let the Social Security Administration do it for you.

Keep in mind that the monthly check you receive from Social Security may be smaller than the benefit amount you expect. If you're 65 and receiving Medicare, the premium for Medicare Part B is automatically withheld each month from your Social Security benefit check. If you retire after 65, you'll have to arrange to have the premium deducted from your benefit check.