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Redesigned Social Security Online Statements: Information To Boost Benefits

The Social Security Administration has appealed to all its beneficiaries to visit its website to obtain critical information which will boost their benefits. The Social Security Administration is working to reopen its field offices. However, not many people have used these services online. As per the Center for Retirement Research at Boston College, only half of retirees have used the services since 2013 reports cnbc.com.

The Social Security Administration Overhauled Its Online Benefit Statements.

The Social Security Administration has been fine-tuning its tools to facilitate online applications easier. The measures will be even better after a recent executive order signed by President Joe Biden. Work is underway to better Social Security’s online services, including benefit applications.

Social Security Recipients Will Receive Enhanced SSA Benefits in 2022

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The newly redesigned online benefit statements are valuable resources that hold vital information to boost the beneficiary’s Social Security retirement benefits.

People above 60 who do not receive benefits can create a My Social Security account. The statements can then be accessed, and they will receive their statements in the mail three months before their birthday.

The refurbished layout by Social Security Administration will facilitate workers to find information at a glance and simplify its complex programs. In addition, the agency again appeals to workers of all ages to check statements annually for accuracy.

The Records Will Reveal How To Get The Best Benefits.

The newly created statement also features a blue bar graph that details benefit estimates for claiming at nine different sample ages. For example, your benefits will increase each year if the person waits until seventy. If a person claims at his full retirement age, generally 66 or 67, depending on his year of birth, he will receive 100% benefits. However, he waits past the period, his benefits will increase.

David Freitag, a financial planning consultant and Social Security expert at MassMutual, said, “The blue bar form is a welcome addition for workers who need the information to help them make good choices about their benefits,”