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Veterans: Get Your Social Security Benefits Estimate Online

Your Money: Answers for veterans on Social Security benefits

Many veterans are unaware of how to estimate their Social Security benefits, or they don’t understand the cost of claiming benefits early or the payoff when they wait to take benefits later.

Someone due $1,500 a month at full retirement age of 66 would receive just $1,125 a month if benefits begin at age 62. But the benefit is $1,980 a month if they delay the starting date to age 70.

Veterans, including active-duty military, will be able to access a free estimate of their benefits on Monday – Veterans Day – at www.SocialSecurityforVeterans.com.

In addition to name, age, and marital status, you need to enter your Primary Insurance Amount (PIA), which is the estimated monthly Social Security benefit you will receive if starting enrollment at full retirement age.

U.S. citizens age 60 and older can receive statements from the government showing thePIA (not paper statements, which the agency stopped in 2012, but electronic). Younger veterans (and those who have misplaced their old paper statement) can find their PIA online by setting up an account with Social Security (www.SSA.gov or by calling the agency at 1-800-772-1213 (TTY 1-800-325-0778).

Sheila Bair Speaks

Sheila Bair served as chairwoman of the Federal Deposit Insurance Corporation from June 2006 through June 2011. She presided over one of the most tumultuous periods in the history of the nation’s banking system, working to bolster public confidence and restore stability. She will speak at the Federal Reserve Bank of Philadelphia on Nov. 13 as part of Women and Risk: Myth or Market Opportunity?

The conference is hosted by the Global Interdependence Center. To attend or for more information, visit the GIC’s website (http://www.interdependence.org/programs-and-events ).

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