Can you apply for disability benefits while colleting early retirement?
Yes. For persons born during the years 1943 and 1954, the full retirement age is 66. For each year after 1954, the full retirement age increases by two months until it reaches age 67 for people born in and after 1960.
Regardless of your full retirement age, you can start receiving Social Security retirement benefits at 62 or at any month between 62 and full retirement age.
However, your benefits will be reduced based on the number of months you receive benefits before you reach full retirement age.
If your full retirement age is 66, benefits will be reduced 25 percent at age 62; 20 percent at age 63; 13 ½ percent at age 64; or 6 2/3 percent at age 65.
If you apply for disability while receiving retirement benefits and are approved, the early withdrawal penalty is eliminated. For instance, if your full retirement age is 66 and you would receive $1,000 a month in full retirement benefits, but you applied for early retirement benefits at age 62, your benefit would be reduced to $750 a month. If you were found disabled at age 62 however, you would receive your full benefit of $1,000 a month.
If you were foreced to retire early because of poor health, consider filing an application for disability. There is no penalty if you lose your case, so if you have medical records to support your early retirement, file an application. We will be glad to assist, call Harris & Riviere (813) 229-2667.