Wednesday, August 10, 2022

How To See My Social Security Statement

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Social Security Announces Redesigned Statement Available Online And By Mail

How to look up your Social Security statement online

Kilolo Kijakazi, Acting Commissioner of Social Security, today introduced a new look and feel to the Social Security Statement, available online through the my Social Security portal at and by mail. The Statement is one of the most effective tools people can use to learn about their earnings and future Social Security benefits. This fresh look will allow millions of people to see their earnings information and estimates of future benefits quickly and securely.

One of my top priorities is to provide information to people in clear and plain terms about Social Securitys programs and services, said Acting Commissioner Kijakazi. The streamlined Social Security Statement contains clear messaging and makes it easier to find information at a glance, helping to simplify our complex programs for the public.

The agency conducted extensive research, review, and testing to make the updated Statement easy to understand. The new Statement is shorter, uses visuals and plain language, and includes fact sheets tailored to a persons age and earnings history. It also includes important information people have come to expect from the Statement, such as how much a worker and family members could expect to receive in Social Security benefits and a personalized earnings history, in a clear, concise manner. Examples of the new Statement and fact sheets are available at

How Do Benefits Work And How Can I Qualify

While you work, you pay Social Security taxes. This tax money goes into a trust fund that pays benefits to:

  • Those who are currently retired

  • To people with disabilities

  • To the surviving spouses and children of workers who have died

Each year you work, youll get credits to help you become eligible for benefits when its time for you to retire. Find all the benefits Social Security Administration offers.

There are four main types of benefits that the SSA offers:

  • Learn about earning limits if you plan to work while receiving Social Security benefits

Why Is It Important To Check Your Social Security Statement For Changes

As with any financial statement, it’s important to make sure the information listed on your Social Security Statement is correct. If your income is wrong on your Social Security Statement, you could lose out on future benefits. For example, the amount of your monthly retirement benefit could be lower if a year of your income is missing from your statement.

The information in your Social Security Statement is also helpful for making big decisions about your financial future. For instance, let’s say you are 62 and you are trying to decide if you should stay at work, apply for Social Security Disability Insurance , or take early retirement. You could use your Social Security Statement to figure out which would make the most financial sense.

Generally, people who file for retirement early, starting at the age of 62, will receive less money than if they wait until their full retirement age. When someone files for SSDI, what they will receive monthly is closer to what they would receive if they waited until their full retirement age. By looking at your Social Security Statement, you can actually see what your benefits would be, and then make educated decisions.

Also Check: How Much Is Full Social Security

How Do I View My Statement

To view your Social Security Statement, you first need to create a MySocialSecurity account on the SSA website. Once you’ve created your account, you can:

  • Start or change your direct deposit
  • Request a replacement Social Security card
  • Use the portals retirement calculator
  • Explore information about other online services

To see changes to the Social Security Statement, visit

Someone May Be Using Your Ssn

Online access to Social Security

Quick Links

  • Someones Got Your Number What Can You Do?
  • People can use your Social Security Number to access bank accounts, open new accounts, and more. If this is happening it may go undetected.

    A lot of times there are indications that something is amiss. These are the top five signs your information has been compromised.

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    Check Your Social Security Statement

    In order to claim your Social Security benefits and help your retirement planning, checking your Social Security statement should be your priority.

    The Social Security Administration has an online portal for everyone to use whether you receive benefits or not.

    This information will help you understand your retirement benefits for you to reach your financial goals.

    When To Take Your Benefits

    If you take benefits as soon as you are eligible which is age 62 you may get your benefits early, but that will reduce the benefits you receive in the future, and not by a little, either!

    Understanding your full retirement age

    This is an important age to understand. Where once the age of full retirement was 65 for everyone, the age has been creeping up for those born after 1943. The new full retirement age will be 67 for anyone born in 1960 or later.

    And if you were born between 1943 and 1954, the age is 66.

    Full retirement age is considered the baseline for everything related to Social Security. It is the age at which you will receive 100% of your basic Social Security benefit. Should you retire before that age, your benefits will be reduced.

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    How Much Money Will The Average Social Security Recipient Get In 2022

    The 2022 COLA increase is the biggest since 1982.

    Heres what that looks like for the average recipient:

    • Retired workers will get an extra $92 a month on average, bringing the average monthly benefit to $1,657.
    • Disabled workers will get an extra $76 a month on average, bringing the average monthly benefit to $1,358.
    • The maximum Supplemental Security Income benefit for individuals will increase by $47 a month, bringing the maximum monthly benefit to $841.

    What Your Social Security Statement Will Tell You

    Can I See My Social Security Statement Online? Yes!

    The Social Security Administration will have your earnings history throughout your career.

    Those numbers are used to calculate projected payments from Social Security.

    You will be able to understand what your retirement benefits will be when you retire at your full retirement age.

    The statement will also give you information on your lower monthly benefit if you begin collecting Social Security at age 62.

    You can also learn how much you will receive if you opt to wait to collect Social Security at age 70.

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    Check Your Credit Report

    The Social Security Administration can tell you if someone is working on your SSN and the IRS can tell you if someone is filing taxes on it, but only your credit agencies can tell you if someone is using your SSN to acquire and use credit in your name.

    There are three major credit reporting agencies in the United States: Equifax, Experian, and TransUnion. They each have slightly different methodologies and scoring programs, but they all more or less provide the same service.

    You are entitled to a free copy of your credit report every 12 months . By contacting each service and requesting your report, you can immediately spot any suspicious activity on your credit accounts. Look for credit card applications, loan applications, and any debt you dont recognize.

    Requesting your reports is simple:

    is a reputable service, and if you sign up for it you can keep a monthly eye on your credit score and your credit history, making it very difficult for an identity thief to put one over you in the long run.

    Checking Your Social Security Earnings Record

    How confident are you that your Social Security earnings record is accurate?

    Unless youve checked it recently, you shouldnt be too sure.

    Mistakes in an individuals Social Security earnings record are actually much more common than most people think. In tax year 2012 alone, the Social Security Administration reported $71 billion in wages that could not be matched to an individuals earnings record! The good news is that the Social Security Administration has a system for sorting out some of these mistakes and assigning the earnings to the correct record. But nearly half of the mismatches are never corrected. That means that in 2012 there were approximately $35 billion in wages that was never credited to an individuals Social Security history.

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    What Social Security Analysts Think

    Gary Koenig, vice president for financial security at AARP, said the new Statement “is much better than where it was.” He’s particularly glad the Social Security Administration no longer uses the term “early retirement benefits,” a phrase he thinks is “frankly misleading.” But he wished the agency would have mentioned “a minimum benefit versus your maximum benefit.”

    Phil Moeller, co-author of “Get What’s Yours: The Secrets to Maxing Out Your Social Security,” gives the overhauled Social Security Statement “a solid B.” He’s a fan of its new graphics, though wishes there were more explanations of claiming rules.

    A Social Security Administration staffer told him, however, that the agency is working to include benefit estimates, taxes paid and an earnings record on its sample Statement that “are more representative of a real-life scenario.”

    Jim Blair, of Premier Social Security Consulting, applauds the way the new Statement gives people a better idea of benefit reductions for early claiming.

    She liked its short length, layout and colored formatting “which make it easier for workers to quickly understand their benefits,” Shedden told me. And she approved of the monthly benefit estimates, the Statement’s “Retirement Ready Fact Sheet” for people and links, rather than arcane wording, to some of Social Security’s claiming rules.

    For one: “I don’t like that you can’t make a PDF of your entire earnings history to check if it’s right,” he said. Shedden complained about this, too.

    Using Your Benefit Estimates

    My Social Security Benefit Statement for Public Display

    As your statement will show, your Social Security retirement benefits will vary depending on when you claim them before or after your full retirement age . The longer you wait to start receiving payments, the higher your benefit amount will be.

    However, it’s not always better to wait until your full retirement age to claim your Social Security benefits. If you need your Social Security benefits for living expenses, or you have a health condition that makes it unlikely that you will live past age 75 or so, you may be better off collecting your benefits sooner rather than later. You can use a calculator at the Social Security website to see which retirement age makes the most financial sense for you .

    For comprehensive practical information about how and when to claim Social Security benefits, see Social Security, Medicare & Government Pensions, by Joseph Matthews with Dorothy Matthews Berman .

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    Report The Death Of A Social Security Or Medicare Beneficiary

    You must report the death of a family member receiving Social Security or Medicare benefits. The Social Security Administration processes death reports for both. Find out how you can report a death and how to cancel benefit payments. In addition to canceling SSA and Medicare benefits, find out what other benefits and accounts you should cancel.

    Who Qualifies For Social Security

    You must earn at least 40 credits to qualify for Social Security, which you earn when you work and pay Social Security taxes.

    The number of credits does not affect the amount of benefits you receive. It only determines whether you are eligible or not.

    You do not get extra benefits for earning more than the minimum number of credits.

    Social Security will not pay you benefits if you do not have enough credits.

    The agency uses the amount of credits you’ve earned to determine your eligibility for retirement or disability benefits, as well as your family’s eligibility for survivors benefits when you die

    Plus, we explain what you need to do if your Social Security check is late.

    Also Check: When Do You Receive Social Security Checks

    Checking Your Credit Score

    The most common way to catch unauthorized activity is by checking your credit information. If an account appears that you did not initiate, someone is using your Social Security number.

    You can check your credit score using a third-party service like or check with your credit card company to see if they have such a feature.

    If youre applying for a new line of credit and get turned down, this could mean that there are fraudulent accounts or activities that are affecting your credit score.

    How To Check Your Earning Records

    How Do I Check My Social Security Account & Statement Online

    You can access your Social Security earning records from the age of 18 and above by creating a MySocialSecurity account which will be linked to your payment history.

    To access your records, you must first log into, where you will find estimates of your retirement, disability and survivors benefits for the future.

    Errors on your account must be corrected within just over three years or they could prevent Social Security funds being given to you.

    To give some context as to where in the US you are likely to receive the most and least amount of Social Security benefits, the list below details the five states that are expected to see the highest average Social Security benefits in the following year.

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    Social Security Statement: How To Get The Statement Online

    All you need to know

    Social Security benefits provide a partial replacement of income for those who are retired or disabled. Employers generally send a wage and tax statement on behalf of their employees tot he Social Security Administration.

    While most people decide to wait until they’ve hit 70 to claim their benefits in order to maximise payments, it is possible to do so earlier, or to get a Social Security Statement in advance,

    A Push For Social Security To Resume Mailing Annual Updates

    The government has been urging people to create online accounts. But most havent, which means they cant regularly check for errors.

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    By Ann Carrns

    With so much financial information available online, who needs paperwork cluttering your desk? But some members of Congress want Americans to get at least one financial document on paper: their annual Social Security statement.

    Until a decade ago, the federal Social Security Administration mailed statements each year to millions of workers, shortly before their birthdays. The statements contain a year-by-year ledger of their annual earnings, as well as estimates of their monthly check in retirement.

    The mailings had begun years earlier through the efforts of Senator Daniel Patrick Moynihan, who argued that workers regularly had money withheld from their paychecks for Social Security but never heard from the program. He considered the mailings an important tool to educate the public.

    But to cut costs, the Social Security Administration instead began encouraging people to obtain their statements online. Now, a smaller pool of people those 60 or older who arent yet receiving benefits and who havent set up digital mySocialSecurity accounts automatically receive annual statements in the mail.

    The Social Security Administration said it does not comment on pending legislation.

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    Social Security Releases Calendar For New Payment Amounts

    Social Security released its 2022 calendar showing the dates of benefit payments for the year.

    The Social Security Administration recently released its 2022 calendar, showing when recipients can expect to receive their benefit payments in the coming year.

    The benefits will be paid out on a different day of the month based on the beneficiaries birthdays.

    Any birthdays that fall between the first and the 10th will be paid on the second Wednesday of each month. Those born between the 11th and 20th will be paid on the third Wednesday of the month. And those born between the 21st and 31st will be paid on the fourth Wednesday of the month.

    If you are expecting Social Security payments, but are struggling with your monthly expenses, consider taking out a personal loan to help pay down high-interest debt. Visit Credible to compare lenders and find your personalized rate.

    How To Maximize Your Social Security Income

    How To Find Out Your Social Security Benefits

    Jeff Rose, CFP® | September 03, 2021

    Were all about retirement planning, and we often talk about Roth IRAs and other retirement accounts and strategies.

    But what about Social Security? Its an often overlooked, though a highly critical, component of your retirement plan.

    There are ways to maximize your Social Security income, but the most effective strategies need to be put in place before you actually begin collecting benefits.

    Getting the most out of your Social Security can be confusing because there are several different options as to when you can take Social Security. For example, you can take benefits beginning at ages 62, 67, 70, or any age you choose.

    However, know that your age at the time of retirement will affect the amount of your benefit, as well as the benefits youll receive for the rest of your life.

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    Calculating Your Monthly Social Security Benefit

    You can go to the Social Security Retirement Estimator to get a reasonably precise number. Benefits are calculated based on a formula that includes your highest 35 years earnings, indexed for inflation through age 59.

    Though it is fashionable for people to try to minimize their taxable income , retirement planning should make you think otherwise, because the best way to increase your monthly benefit is to increase your income during your working years.

    This is also an excellent reason to continue working into your 60s if you are in your peak earning years. Each year in which you earn a high income will knock out a lower earning year, and increase your monthly Social Security benefit.

    There are three primary ways you can access your social security statement:

    • You can contact the SSI office via phone during their office hours
    • Online: By far the easiest route, you can obtain your statement on the SSI website, where youll be prompted to enter identification.
    • You may also print and submit Form 7004 by mail to receive a copy of your statement.

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