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<blockquote data-quote="vantexan" data-source="post: 4578757" data-attributes="member: 24302"><p>I&#039;m well aware.&nbsp; And if you didn&#039;t work a full 35 years they plug a zero into the missing years.&nbsp; But as far as the 8% goes they either work back from your full retirement age,&nbsp; which in my case is 67, or they work forward to 70.5.&nbsp; They don&#039;t start at 62 and increase 8% all the way to 70.5.&nbsp; Too much compounding.&nbsp; They tell you what your monthly payment is at your full retirement age and then either reduce or increase from there.&nbsp; Another helpful hint.&nbsp; With my traditional pension if my birthday fell on the first of the month and I retired on the 1st my pension would start right away.&nbsp; Everyone else would have to wait until the following month.&nbsp; But SS will start your payment right away if your birthday falls on the first or second.&nbsp; My birthday is January 2nd so I will get my first payment on January 1st, 2024.</p></blockquote><p></p>

[QUOTE="vantexan, post: 4578757, member: 24302"] I'm well aware. And if you didn't work a full 35 years they plug a zero into the missing years. But as far as the 8% goes they either work back from your full retirement age, which in my case is 67, or they work forward to 70.5. They don't start at 62 and increase 8% all the way to 70.5. Too much compounding. They tell you what your monthly payment is at your full retirement age and then either reduce or increase from there. Another helpful hint. With my traditional pension if my birthday fell on the first of the month and I retired on the 1st my pension would start right away. Everyone else would have to wait until the following month. But SS will start your payment right away if your birthday falls on the first or second. My birthday is January 2nd so I will get my first payment on January 1st, 2024. [/QUOTE]

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