Benefits of Disability Upon Reaching Retirement Age
Social Security disability benefits automatically convert to retirement benefits when an individual reaches the eligible retirement age, but the amount remains the same.
If they qualify for spousal Social Security benefits, they will also receive this amount monthly – however, they must apply for these benefits. In many cases, the amount received monthly will not change, and it may increase depending on how long the individual has worked. Other considerations include whether they are currently receiving a monthly pension and how much has been earned towards Social Security retirement benefits before they became disabled.
Compassionate Allowances
There are some special circumstances for individuals receiving Social Security disability benefits. Under the Compassionate Allowances program, the Social Security Administration may provide additional benefits and expedite benefits for those who are the most disabled and meet certain medical criteria.
For example, an individual facing a life-threatening illness who is approaching retirement age may qualify for this decision.
How to Qualify for Social Security Disability Benefits
Eligibility for Social Security disability benefits depends on several factors. The individual must have worked for at least 10 years and must have a medical condition that is determined to be a qualifying disability under Social Security rules.
Disability Social Security attorneys can help determine these factors to ensure the individual receives these benefits, and it may take a few years to begin receiving monthly disability checks. This could include a catastrophic injury or illness, a physical or mental disability, or another medical condition that prevents the person from obtaining meaningful work.
How to Make the Decision to Retire Early
If you choose to retire early at age 62, your retirement benefits will be reduced until you reach full retirement age. If you are already receiving disability benefits, you are likely already receiving the full amount of your retirement benefits. Therefore, many people who receive disability benefits will receive higher amounts if they choose to remain on disability rather than retire early.
Note: The decision to retire is entirely up to each individual. It is recommended to speak with a specialized attorney and a financial advisor before making this step.
Frequently Asked Questions (FAQs)
What happens to my pension if I become disabled?
Your Social Security disability benefits may be reduced if your pension is from a job that did not pay Social Security taxes. Jobs that may not have paid are usually government or non-profit-related jobs.
What happens to Social Security disability benefits when you turn 62?
You can continue to receive Social Security benefits unchanged if you do not choose to retire early. If you choose early retirement, your benefits may be reduced.
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Sources:
– U.S. Social Security Administration: “What You Need to Know When You Get Social Security Disability Benefits.”
– U.S. Social Security Administration: “Compassionate Allowances.”
– U.S. Social Security Administration: “How to Qualify | Disability Benefits.”
– U.S. Social Security Administration: “Early or Delayed Retirement?”
– Berger and Green: “Can You Collect Retirement and Social Security Disability Benefits at the Same Time?”
Source: https://www.thebalancemoney.com/when-i-retire-what-happens-to-my-disability-benefits-1177958
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