What Is A Social Security Statement?
Every individual with a social security number will receive a social security statement in the mail at the beginning of each year. The statement tells a person about the expected benefits he can receive under certain circumstances. The SSA is required to send out these statements once a year. Most people do not pay attention to these statements unless they are close to the retirement age. The statements themselves are easy to read and printed on high quality paper. High quality paper is a nice addition but not necessary.
Reading Your Social Security Statements
The social security statement a person with a social security number receives in the mail contains two pieces of information related to the different types of benefits a person can collect. One column represents the amount of benefits a person gets if he becomes disabled right now. This is usually the lower number because it does not include anticipated cost of living increases and additional contributions to the social security program. The second part shows the recipient what his monthly benefits will be when he reaches retirement age. This number is higher.
Other Information on the Social Security Statement
Other information a person will find n this statement is when he can collect his full benefits, when he can collect early benefits, and a basic overview of how the social security program works. Many people who get one of these statements in the mail act with confusion the first time they receive such a statement, particularly if they have not applied for social security benefits. A person has a social security number assigned at birth if he is a natural-born U.S. Citizen. If he moved into the country after birth, he will get assigned a number once he earns American citizenship.