Q & A

“I am thinking about suspending. My birthday is January 4, and I started getting payments early, at age 65 and one month, in February. I got my first check in March. I thought I read somewhere that I cannot suspend if I took early payments? Is that true?”

Answer: You cannot suspend payments until you hit full retirement age, which in Jeff’s case is 66. Once he turns 66, Jeff could suspend payments, even if he has already started receiving them. At that point, the amount he was receiving when he suspended will grow by 8 percent per year (plus inflation) for every year he defers taking benefits until he reaches age 70.

Source: Kathleen Pender, www.sfgate.com/

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