How Are Social Security Spousal Benefits Are Calculated
When you claim Spousal benefits, you could get up to one-half the amount your spouse is entitled to receive at their full retirement age.
However, if you decide to start taking your spousal benefits before you reach full retirement age, your benefit amount will be permanently reduced.
For example, if your spouse is receiving $2,500 a month in Social Security benefits but you are only getting $800 a month, you can switch to spousal benefits.
If you make the switch to spouses benefits, you will receive one-half the amount your spouse is entitled to, which in this example will be $1,250.
Therefore, by switching to spousal benefits, you will be getting $450 more a month.
However, you will only get your full spousal benefit amount if you wait until you reach full retirement age to begin receiving benefits.
Password Reset Emails In Your Inbox
If you begin receiving mysterious password reset emails, then this could signal a problem. This could be a sign that someone is attempting to change the password to your accounts without your knowledge. Never click on the links in these emails. It could be a phishing scam designed to capture your SSN or other sensitive information. If the email is from an account or company you recognize, then you should log on directly to their website and change your password immediately. If someone has gained access to your account, then changing your password should keep them out going forward.
How To Change Your Social Security To Direct Deposit
A Step-by-Step Guide for Seniors to Set Up or Change Your Social Security Direct Deposit Information
Thank you for your inquiry
Someone will be in touch shortly
As of March 1, 2013, the Social Security Administration now requires you1 to get your benefit payments electronically . Having funds sent directly to your bank account is one of the easiest ways to track your finances and secure your benefits, but it goes well beyond budgeting. If you or a loved one have not yet signed up, direct deposit is a smart move for multiple reasons. In this article, weâll lay out the benefits, how to enroll, and most importantly, when to expect that first deposit!
Read Also: Sociall Security
Your Personal Mysocial Security Account Is For Your Use Only
Social Security is dedicated to protecting the information and resources entrusted to us, including your personal information and investment. For your protection, youre the only one who can create your personal mySocial Security account for your own exclusive use. No one can create or use an account on your behalf, even with written permission. Dont share the use of your account with anyone else under any circumstances, as unauthorized use of this service is a misrepresentation of your identity to the federal government and could subject you to criminal or civil penalties, or both.
Exceptions To The Usual Schedule
Your payment will arrive on an alternate schedule if you fall into certain categories. It will be made on the third day of the month if:
- Your state is paying your Medicare premiums.
- You started receiving benefits prior to May 1, 1997.
- You reside in another country.
- Youâre receiving both Social Security benefits and SSI payments.
But thereâs an exception to the Social Security/SSI rule as well. Youâll receive payment on the first of the month rather than the third day if youâre receiving SSI due to disability, blindness, or age.
SSI is needs-based. Itâs not something you paid into over the course of your working career, like Social Security retirement or disability benefits or Medicare, so itâs possible to collect for these reasons without also receiving Social Security retirement or disability benefits. SSI is intended to pay for basic food, shelter, and clothing needs.
Your payment will come the weekday just before the usual date if your payment date falls on a weekend or a federal holiday.
You can find calendars on the Social Security Administrationâs website, Schedule of Social Security Benefit Payments 2021, to pin down the exact dates in 2021 depending on your circumstances.
Find Your 401s With Your Social Security Number
If you don’t have any of the information mentioned above, you’re not out of luck just yet. You can use your social security number to search for and find old 401s.
When you join a 401 at work, you’ll provide your social security number. This ties your 401 to any tax responsibilities you may have but also permanently stamps your 401 to your identity.
There are a couple of places to search for your old 401s using your social security number.
Find Out Your Estimated Social Security Benefits
Periodically checking your estimated Social Security benefits serves several purposes: It helps you plan for retirement and allows you to check for and correct errors.
The Social Security Administration keeps a database of your earnings record and work credits, tracking both through your Social Security number. You can see this information on your Social Security Statement, which is available to everyone age 25 and over. The Social Security Statement also gives you an estimate of the benefits you’ll receive at retirement age, which can play an important role in your financial planning.
Read Also: Social Security Maximum Benefit Age
Other Ways You Can Apply
Apply With Your Local Office
You can do most of your business with Social Security online. If you cannot use these online services, your local Social Security office can help you apply. Although our offices are closed to the public, employees from those offices are assisting people by telephone. You can find the phone number for your local office by using our Office Locator and looking under Social Security Office Information. The toll-free Office number is your local office.
Apply By Phone
If You Do Not Live in the U.S. Or One of Its Territories
Contact the if you live outside the U.S. or a U.S. territory and wish to apply for retirement benefits.
Mailing Your Documents
If you mail any documents to us, you must include the Social Security number so that we can match them with the correct application. Do not write anything on the original documents. Please write the Social Security number on a separate sheet of paper and include it in the mailing envelope along with the documents.
How To Estimate Your Future Social Security Benefits
Regardless of how close you are to retirement, knowing how to estimate your future Social Security benefits is a smart decision. You should plan to check your Social Security earnings record regularly. Social Security Administration takes information about your earnings from the taxes you pay. Earning enough work credits over your working life and paying enough FICA taxes into the Social Security system allow you to claim retirement, disability, or other benefits in the future.
You can check your Social Security statement to obtain an estimate of future Social Security benefits and your earnings record online or by U.S. mail. To view your Social Security statement, go to SSAs website and create a Social Security My Account Social Security MY Account allows you to manage essential information, such as changing the way you receive a direct deposit of benefits or reporting an address change.
Recommended Reading: Social Security Benefits Work
Who Is Eligible To Collect Social Security
To qualify for Social Security retirement benefits, you need to earn at least 40 Social Security credits during your lifetime of working.
This translates to the equivalent of working for at least 10 years and paying into the Social Security system through payroll taxes.
However, Social Security Disability credits are calculated slightly differently.
Also, you may only claim one type of Social Security benefit.
If you are approved for disability benefits, you may not receive Social Security retirement benefits and vice-versa.
Read Also: Where To Replace Social Security Card
Approach #3 Use Your Social Security Online Account
If you have a computer, you should consider simply using my SSA to change your address. It only takes a few steps and youll be able to confirm the change immediately.
This is by far the easiest approach. With just a few clicks you can make the address change and move on to more pressing issues.
Heres a step-by-step guide.
If you want to see a step-by step video guide, go to the bottom of this article.
Visit www.ssa.gov/myaccount to get started.
Feel free to click the link. It will open Social Securitys website in a separate page so you can keep using this guide.
Once the page loads, simple click on the button labeled Sign In or Create an Account.
Type your username and password and click the button labeled Sign In.
In the third step, you need to read and agree to the my Social Security Terms of Service. Be sure to carefully read this page before clicking in the I agree box and then clicking Next.
Although you need to understand this information for yourself, heres a summary of what you are agreeing to.
-You will never share your information with anyone or use anyones account-Once you open an account, you will no longer receive an paper statement in the mail. Instead, youll receive an annual email reminding you to login and check your information.
Now that you are on the home page, you just need to find and click on My Profile tab in the top right.
Can Ssi Find Out I Have A Bank Account
The quick answer for people receiving Supplemental Security Income is yes, the Social Security Administration can monitor your bank accounts since you must grant them permission to do so. If you don’t want SSA to know about your account, however, you should give clear instructions within your Social Security Statement or Notice of Award as to how they should handle inquiries from other agencies about your finances.
Those who receive Social Security Disability Insurance benefits cannot be asked by any agency about their financial affairs without their written consent. This is because disability insurance benefits are paid directly to individuals, and not through a representative. Therefore, no one can make claims on your behalf nor can anyone act as your agent for the purpose of collecting benefits.
If you are concerned that SSA may be contacting your banks or credit card companies about your account, then you should discuss this issue with them before they contact others. They should be able to tell you what information they need to process your claim.
Your best course of action if you don’t want SSA to know about your bank account is to tell them when they ask for your bank information. Some states require disabled persons to sign forms authorizing release of their medical records to public officials such as SSA. You should also talk to your doctor before they ask questions about your finances.
How To Check If Someone Else Is Using Your Social Security Number
The rise of technology has brought new threats to your personal data and its security. Identity theft is a crime that strikes at the heart of a modern citizens wealth, employment, social services, and more. Our identity specifically, the electronically-encoded identity that serves as the gateway to our bank accounts, to our home security systems, to our e-mail and network resources can be stolen by unscrupulous people and used for crimes great and small.
At best, an identity thief may use part of your identity as the launchpad for some phony persona that they are using to commit acts of fraud and light scams. At worst, they can drain your bank accounts, destroy your credit rating, and wipe out your hard-earned retirement benefits. Identity theft is not a minor crime in 2018, more than 60 million Americans reported that they were affected by identity theft.
Recommended Reading: How Are Social Security Payments Determined
How Can I Detect A Phishing Email Pretending To Be Social Security
- Most emails from Social Security will come from a .gov” email address. If an email address does not end in .gov, use caution before opening attachments or clicking on pictures or links in the email. Currently, Social Security sends emails from ,, , , and echosign.com.
- In a few instances, we use marketing firms to raise awareness of Social Securitys online services, and this includes creating amySocial Security account. We allow these firms to send email directly to individuals. Any links you find within these emails should always point to a .gov/ web address.
- Links, logos, or pictures in the body of an official Social Security email will always direct you to an official Social Security website. Rather than relying on the way a link looks, please follow these steps to confirm a links authenticity:
- To verify the web address of a link or picture, hover over it with your mouse until a text box appears with the web address. This is the actual address you will be directed to and it should always include .gov/ A forward slash should always follow the .gov domain.
- Example -https://www.ssa.gov/myaccount/
- Links to the official Social Security website will always begin with or.
- Below are examples of fraudulent websites pretending to direct you to Social Security. Notice the location of the forward slash.
Social Security Lets You Change Your Direct Deposit Online
The most convenient way to change your direct deposit information with us is by creating a my Social Security account online at www.ssa.gov/myaccount. Once you create your account, you can update your bank information from anywhere.
We are committed to protecting your personal information, so we take steps to verify who you are. If you already have an account, we verified your identity when you created your personal my Social Security account. If you cant remember your username or password, dont worry. At the sign-in screen select Forgot Username or Forgot Password and follow the simple but secure steps to reset them.
When you are ready to change your direct deposit, we highly recommend that you do not close your old bank account until you have seen your Social Security deposit show up in the new bank account.
We always strive to put you in control by providing the best experience and service no matter where or how you decide to do business with us. Remember, you can do much of your business with us online at www.ssa.gov/onlineservices.
Don’t Miss: How Do I Get My Son’s Social Security Number
How To Change Direct Deposit Information For A Social Security Benefit Check
Social Security benefit checks no longer arrive in the mail. Instead, you must provide your bank information so that the funds can be deposited directly into your checking or savings account. You can change direct deposit information for a Social Security benefit check by logging into the Social Security Administration website. Phone support is available as well.
What Can Someone Do With Your Social Security Number
There are many things that someone can do with your SSN, and none of them are good. They can gain access to your banking or financial accounts as well as open new accounts in your name. Getting a loan, obtaining credit cards, or applying for other types of credit are just a few examples. In addition, they can file fraudulent tax returns with the IRS and even claim your My Social Security account to manipulate your Social Security statements and work history.
Also Check: How Much Have I Paid To Social Security
How To Get A Copy Of Your Social Security Statement
The SSA mails out Social Security Statements to follks age 25 and over before their birthdays during their 25, 30, 35, 40, 45, 50, 55, and 60 years. For those age 60 until retirement, the SSA will send out statements every year. You can also go online to get a copy of your statement or view it online. Go to www.ssa.gov/mystatement/ and open an account with Social Security to view your statement.
Check Your Earnings Record
You will see your entire yearly earnings record when you view your online account. Its important that you check the earnings figures to make sure they are correct.
The Social Security Administration calculates your federal benefits based on your earnings during the 35 yearsopens PDF file when you earned the most.
In making its calculation, the SSA assumes that you will continue to earn your current salary until retirement when calculating your social security payment. If your earnings change, your benefit may too.
You May Like: How Do You Check Social Security Benefits
How To Cash My Social Security Check For Free
When you a receive a benefits check from the Social Security Administration, every dime counts. Paying high check cashing fees at banks and check cashing agencies will quickly add up. You have several options available that will allow you to cash your Social Security check for free. Depending upon the option you choose, you may be able to cash your check without leaving the comfort of your home.
Secret Bank Account Social Security Card Scam
A recent Social Security scam claims that you can pay your bills through a secret account that is linked to your Social Security Number. These scammers explain in detail how to enter your Social Security Number and other personal information into an online system to reveal your Federal Reserve bank account number and routing number. Some of these scammers refer to these accounts as Social Security trust accounts so they sound official. The scammers claim once you gain access to this account, you can spend all your potential Social Security benefits at once.
However, once you enter your personal information into the online system, youre given a bogus account number or no number at all. These scammers now have your important personal information, which they can sell to other scammers or use themselves to commit identity theft or perform other potential frauds.
Read Also: Activation Code For Social Security