The retirement age is the main element that influences the access to the social security benefits. Thus, there are several categories of retirees, some who were born before 1932 and retired at 65, others born between 1938 and 1943, with the retirement age set at 66, and finally another group of people born starting with the 60s who have the retirement age set at 67 years of age. Social security benefits will diminish with several percents if you chose to retire before time.
The same rule applies for delayed retirement too when the employee can increase the number of social security benefits with several credits, that can be then used by the spouse in case of death. From 2000, the US legal system allows for a worker’s spouse and children to receive social security benefits, but depending on the situation, individual conditions can be identified here as well. In case of death, even divorced spouses can receive social security benefits. Disabled people can also receive various disability benefits when they have a long enough work history.
A legal hearing is usually appointed before determining whether the disabled will receive social security benefits or not. Due to the huge number of applications filed for social security benefits, Administrative Law Judges have difficulties coping with the huge work level. Sometimes, it may take up to ninety days before a request is solved in a hearing. Yet, waiting times can increase up to eighteen months in some parts of the country, and such cases are the least fortunate of all.
A tax free income and a higher monthly revenue, such are the social security benefits that one aims at. While you receive disability services you are not counted as employed. Moreover, you should know that the amount of money you get per month depends on your average earnings during a determined period of time, such as the last 30 years. In recent years, the world financial crisis has given rise to lots of new applications for social security benefits.
The extra retirees are in fact putting more pressure on a system that is already seriously tried by recession. Statistics indicate that 150,000 more people request their spouse social security benefits yearly. During the recession, the elderly have troubles finding a job, and therefore, social security benefits become a safety net. Someone who closes retirement will hardly be interested in more education or be able to continue work once he/she has become unemployed.