Money: Social Security Connection

Answers to readers’ questions.

| May 2009

Question:

If I start drawing Social Security benefits at age 62, will my benefit amount stay the same for the rest of my life, or will it increase when I turn 65? – G.T., Maine

 

Answer:



Once you file for reduced benefits (meaning if you file before your full retirement age), your benefit amount will stay the same. However, you will be eligible for annual cost of living adjustments every January.

 






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