What Are Social Security Retirement Benefits?

Throughout your working life as an employee, or for that matter, as an employer, you are required to pay social security which is deducted from your pay check. These are basically the monthly installments that you pay in the form of tax. Depending on how long you are in employment, (you could retire early or be forced into retirement through ill health) will determine what amount of money you are entitled to receive in your retirement.

The varying forms of benefit are social security benefits, disability benefits, Medicare benefits, survivors benefit, disability benefits, military benefits and private funded benefits.

The payments that you made whilst working away to secure your future were collected and lovingly cared for by the government. Now if all goes to plan and with the wind in the right direction! then theoretically this money has been invested and multiplied and should be re-paid to you in your later years. The question remains; is there, or will there be anything in the pot at the day of reckoning?

According to Social Security USA over 96% of the population in America are payees into the social security system. The system has, up until now, a pretty good record of looking after it's own and one or two others along the way. The sum that you receive in retirement is calculated from the amount, or for how long you paid in to the system, in a nutshell, the longer you were a member of the social security system, the more you got back.

On the subject of early retirement through disability, there's no reason why you shouldn't receive full disability benefits throughout your retirement, provided that your case is genuine and that you have been certified as unable to carry on working as a result of your disability. Naturally this must be certified by a medical doctor in one of the social security accredited hospitals.

If you are retiring before 61 then the monthly installments you will receive will be much lower then the amount you receive after the scheduled time.

Conditions Applicable To Claim for Retirement Benefits:

• You must be 61 year 8 months old
• You have never applied for any of social security benefit before
• You are not ready to receive your benefits yet

The minimum age to apply for the benefits is 62 then can be extended up to 70 years. You must show your retirement documents. Delayed retirement credits can be added if you are receiving benefits after completing your full retirement age.

For more information related to social security you can visit your nearest social security office. Social security card replacement and application process is far much easier by collaborating to social security USA. Share your valuable feedback on this topic in the comment box.