Monday, April 20, 2009

What are Social Security Benefits

Social security benefits are earned by tax payers throughout their working lives and are paid upon reaching retirement age as an income. These benefits can also apply with the death of a spouse for them and for their children. Even so, individuals should not rely solely on the promise of social security benefits to keep you in retirement. You should also be planning to have your own money in a retirement account. This way you can use your social security benefits as only a supplement.

You should not claim social security benefits you have earned until you reach the age of 65. If you access them earlier than that you will get a reduced benefit amount. It can take several months to get approved for social security benefits as well. To get the benefit you must fill in the correct paperwork either at the government office or online and it then takes time to process.

Some types of social security benefits have to do with a disability. In order to receive this benefit you must provide medical substantiation that you are unable to work. Other people experience that they can only work reduced hours or a different type of job that pays less. Your social security office can assist you with the specifics of such benefits as well as how to apply for them.

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