Hello, JT107!
The Social Security Administration (SSA) allows up to six months of retroactive Social Security benefits to be paid in a lump sum to those who delay filing for retirement benefits past their full retirement age. This means that the recipient's Social Security start date and monthly benefit amount are rolled back by six months. (In certain cases, benefits involving disability up to 12 months may be paid retroactively.)
To receive retroactive benefits, you must:
- Reach full retirement age
- File for benefits within six months of reaching full retirement age
Some factors to consider when deciding whether to take retroactive benefits include:
- Life expectancy: How long you are expected to live
- Need for funds: Whether you need immediate funds or ongoing retirement income
- Tax consequences: Whether there will be any tax consequences
- Surviving spouse: If you are married, your decision may affect future benefits for your surviving spouse
In general one is entitled to benefits beginning the first month in the retroactive period that you meet all requirements for the entitlement of your benefits. For example, suppose you reach full retirement age in March 2024 and for some reason you do not file an application for retirement insurance benefits until March, 2025. In this case, you may be entitled retroactively beginning with the month of September 2024 (six months before you filed an application).
For additional information see:
Please feel free to reach backout with any additional questions or concerns you might have!
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Terri Lynn
