Q & A
When Must I Repay Benefits to Withdraw My Application?
By – Laurence Kotlikoff, via Forbes Social Security Q&A Page –
Full Question: I began receiving Social Security at age 63 in January of 2015. In April, I decided to work part time an extra year. I will end up over the income to receive benefits. I understand that if I get retirement benefits early, then withdraw from receiving benefits before my full retirement age, I must repay what I have already received. Must I write SSA a check now, or when I tell them I want to withdraw? Or do they just keep enough payments to repay the money already received once I retire at age 65?
Answer: Yes, you would have to write Social Security a check for the amount of all the benefits you’ve received (including any tax withholdings) in order for them to approve a request for withdrawal.
Source: Laurence Kotlikoff, Forbes Contributor
I just turned 60 in January 2024 and started earning survivor benefits, my husband passed away 2 yrs. ago.
I was offered a high paying contract job for 2 years just recently. my question is, if I withdrawal my Social Security and pay back what I was sent so far this year, will I be able to apply again for survivor benefits at age 63 when this contract position ends?
Jill
Yes, you can. Call your local Social Security office and inform them you made a mistake and would like to cancel your Survivor Benefits. Social Security will send you a letter telling you how much you need to pay back. Do not pay anything back until you receive that letter and then send the payment with the letter. When your employment ends, you may then reapply for your survivor benefits, which will be higher that time. If your own retirement benefit is going to eventually be higher than your survivor benefit, you will need to file a restricted application informing Social Security that you are only applying for your survivor benefit at this time, while allowing your own retirement to continue to grow. You may then allow your own benefit to continue to grow up to the age of 70 if you choose.
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Sharon Kleczka
National Social Security Advisor
The AMAC Foundation