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Social Security: Is your benefit amount correct based on your work record?

Millions of Americans collect Social Security each month to get by, but not everyone may be getting what they’re entitled to due to incorrect records.

social security card with checks representing social security benefits

The next payment will go out this month, worth an average of $1,657.

How much you receive depends on various factors.

This includes the age you are when you start collecting benefits as well as your annual income over a 35 year span.

If you wait until age 70, you’ll get the biggest checks possible.

Social Security and taxes on benefits explained

Those who earned the wage cap every year will also see the highest benefits.

6 figure earners that earned that amount for 35 years are the few who see maximum benefits.

The wage cap in 2022 is $147,000.

To get these things, and what you’re entitled to, your records must be kept in tact.

This means if you are missing any records, or the SSA overlooks them, you could be getting less money than you’re entitled to.

Four unexpected ways you could lose benefits

What happens if your earnings statement is wrong with the Social Security Administration?

If your record is wrong, you have to prove it.

If proven, there are changes that can be made.

According to The Sun, changes can be made any time up to three years, three months, and 15 days after the year the wages were paid.

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