Social security supplement penalty?

Category:

Retirement

-1

I plan on taking the supplement at 56 (in 2020) and receiving $1,399. SSA says that at age 62 I would receive $1608. Do I get penalized for taking the supplement or do I get the $1608?

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Posted by wildtsunami (Questions: 1, Answers: 0)

Asked on February 1, 2018 10:36 pm

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Private answer

A couple of comments on your question. When your SSA benefit statement says you will get $1608 at age 62 it makes an assumption that you will continue working until you are age 62 and the last annual earnings amount posted to your benefit statement is your projected annual earnings for those additional years. So, although collecting the FERS Retiree Supplement has no bearing on your future SSA benefit, the fact that you won’t be working for those 6 years might make it be lower than originally estimated.

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