When To Begin Taking U.s. Ss Payments

[scott h]

deduct from my military pension

 

Now that is just plain wrong :th_unfair:

[Jack Peterson]

Now that is just plain wrong

 

Quite So, I can see it taxed along side of the pension but to reduce it, Just not Cricket  :no:

 

JP :tiphat:

[i am bob]

Welcome to Canada, the land where your military gets screwed...

[stevewool]

Again i cannot stress enough, save save and Save some more, you only have yourself to look after yourself,

[rw191010]

I hate reading about all you guys and your SS pensions! Yes. We have CPP in Canada but anything I collect, the bsdtards deduct from my military pension. So, in my case? Why bother collecting?

I didn't know that about the Canadian pension system.  I'm a military retiree, and I'm hearing that they are considering that same thing in the U.S.  They may deduct a portion of your military retirement, even though you contributed to SS when working.  It is really a B.S. system for sure!

[scott h]

I'm hearing that they are considering that same thing in the U.S.

 

If that ever did happen, I am 99% sure that all current retirees would be grandfathered in and no change would happen. Lots of precedence.

[Thomas]

The whole scheme is falling apart because government borrowed the money and put it in another pocket without paying back.

Yes. In several western countries the retirement pay systems are conctructed similar to "Chain letters" which are FORBIDDEN in same countries for others than the gowernment... :1 (103):

Full benefits use to be 65 years, moved to 66 or 67 depending on the year you are born.

Yes, now the governments have noticed they can't afford to pay what they PROMISED us when the system was made, and they have WENT ON to promise us during all the years we have PAID. Now when it's time for them to PAY BACK, THEN they CHANGE what they promised!!!  :bash:    It's same in Sweden, raising the age when they start paying full...

[jpbago]

I hate reading about all you guys and your SS pensions! Yes. We have CPP in Canada but anything I collect, the bsdtards deduct from my military pension. So, in my case? Why bother collecting?

 

Also, the Disability CPP stops at age 65 to be replaced by a lower CPP. A survivor's pension from CPP stops at age 65.

[stevewool]

 

 

Thanks boys for giving me the answer, seems you are on a better deal then us Brits with our state pension, but i am sure someone will come along and tell me i am wrong, I DO HOPE SO

Steve you are going to hate me But............ we also have a deferred Payment System, The Later you take it the More you Get. Log on to https://www.gov.uk/browse/working/state-pensionto get the latest Update.

 

Sorry mate.

 

:tiphat:

 

How did i know it would be you that came along Jack,

Its a long time till i will be able to get the state pension infact it will be another 10 years, so if i retire in say 2 i still have 8 years to wait,

We all know a lot can happen from now till then and if someone in a few years time starts a new thread can i live on $10500 a month well i know i shall be drawing it straight away,

But its good to know that if i live that long there will be something to look forward too and maybe spend that little bit more too

 

Just done some adding up, if i defer it for a year or so it would bring in a extra £360 so thats a £1 or just over , WOW,

It seems to me they are hoping lots do this and die sooner then later, well i am claiming everything when i can and just put it all in my back getting 0.1% intress , each to there own i say

[davewe]

Now that I am at early SS retirement age (62) hardly a month goes by when I am not invited to a free dinner and a lecture on using Social Security retirement benefits. Of course the financial advisor mostly wants to get your money afterwards, but the presentations are interesting.

 

Bottom line is there is no correct answer. You have to take into consideration your health, genetic predisposition (if everyone in your family dies by 65 best to take it at 62), current employment or lack thereof, where and how you are going to live, spouse and her potential SS benefits (doesn't impact those of us with younger wives), and a host of other factors.

 

The guy did bring up what is called in financial circles the "Viagra strategy." Needless to say, my wife and I were the only ones in the room that this applied to. In short if you have a baby or are planning for one soon, it might be best to retire and collect a lesser payment for you and the child, but a payment for the child for 18 years.

 

There were many complex strategies talked about and as I said no right answer. For me I am gonna wait 2 more years. Remember that the monthly payment goes up every month you wait, so if you start collecting at 64 and 4 months, you get more than if you started at 64 and 3 months. So for me that's the sweet spot when my SS will be higher, as will my retirement savings.