Social Security: A Guide to Applying for Retirement Benefits

If you plan on retiring in the near future, you're probably thinking about applying for Social Security benefits. There are several factors to consider before taking the plunge, but knowing the process of applying can help you prepare for when you're ready.  

You can begin collecting Social Security benefits as early as the age of 62, but you'll get more money the longer you wait, and you'll receive the maximum benefit at the age of 70. 

Whether you're just beginning to plan for retirement or you're ready to apply today, we'll walk you through the process and fill you in on what you need to have ready before you begin. For more, don't miss our Social Security and SSDI cheat sheet and our look at why more people are applying for benefits early. 

Gather your documentation

You'll be asked for a lot of documentation when you apply for Social Security benefits, so it's a good idea to get everything you need in order before going through the process.

What you need to apply for Social Security benefits

Personal information

• Your Social Security number
• Place of birth (city, state, country)

Work in the last 5 years

• Names of employers
• Dates of employment
• Average hours worked
• Pay rates received

Spousal information

• Social Security number of current or former spouse
• Birth date  of current or former spouse
  
• The date you were married or divorced
• Place of marriage (city, state, country)

Bank account details

• Routing and account number of your bank account

Eligible dependents

Your children could be eligible for benefits as a dependent under your account if they're 17 or younger, 18 or 19 and still in school (K-12), or became disabled before 22. Qualifying children can receive up to half of their parent's full retirement benefit.

How to apply for Social Security benefits

When you're set to apply for Social Security benefits, go to https://ssa.gov/apply. You'll be prompted to create a My Social Security account if you haven't created one already. It's easy.

Once you're logged in and at the Apply for Social Security benefits page, you'll be asked who you're applying for (an adult or a child) and what type of benefit you're applying for. Select all that apply and click the Learn how to apply button. The next page will give you a quick summary of your selections. Under the Submit an application section, click the Apply online button to start your application.

If you'd rather not apply online, you can call the Social Security Administration at 800-772-1213 to set up an appointment to apply for benefits. The agent will schedule the appointment and let you know whether you can do it over the phone or if you'll need to go to a local branch to apply.

However, due to policy changes and layoffs, going this route may prove to be more difficult. The job cuts have resulted in longer than normal wait times to reach the SSA by phone, local branches are crowded and the official website has had issues staying online. Still, the latter will likely remain the easiest of your options, so signing up for a My Social Security account should be at the top of your list of things to do even if you choose to apply another way.

While the SSA says that all claims can be completed over the phone, a new fraud-checking system has been put in place that may require some applicants to perform extra steps. If your account is flagged for potential fraud or irregularities, you may need to complete the identity proofing check in person at a local branch.

What happens after you apply for benefits?

After your application has been received, you'll get a letter with a decision about your application. If you apply to receive benefits as soon as possible, you'll typically get your decision notice within 30 days. If you apply in advance, you'll receive your letter closer to the time you chose to begin receiving benefits. During the application process, you'll need to select what month you'd like your benefits to begin. If approved, your first payment will typically be sent out for the following month.

You can always check the status of your application by logging into your My Social Security account For more, don't miss the four ways you could potentially lose your Social Security benefits.