The Security Security Administration has partnered with the Consumer Financial Protection Bureau and the Brookings Institution in an effort to encourage and educate more Americans on how to use their online my Social Security System when planning for retirement.
According to the press release, more than 21 million people have created a personal online account yet many workers paying into Social Security still know little about how the system works or what they need to do on their own to get ready for retirement.
The Acting Commissioner Colvin, said “Because we’re living longer, healthier lives, we can expect to spend more time in retirement than our parents and grandparents did. Creating a sound retirement plan is vitally important. Social Security provides secure online services for our customers—including the my Social Security suite of services, the Retirement Estimator, and the online retirement application.”
If you haven’t already done so, setting up a my Social Security account is free and very easy to do. Once you set up your online account, you will no longer receive a statement in the mail but you can view and/or print your Social Security Statement once logged in. You can also keep track of your earnings, get an estimate of your future benefits and apply for your social security benefit online. Even if you’re already retired, it’s useful to have a my Social Security account as you can use it to change your address, start or change your direct deposit and many other services. You can also request a letter with proof of your benefits if you currently receive them.
To set up your online account, go to the Social Security Website. You will need a valid E-mail address, a social security number, a U.S. mailing address and be at least 18 years of age. Make you sure you read and follow the instructions carefully. Note that the Social Security website makes it perfectly clear that you cannot create an account of behalf of another person or use another person’s information or identity, even if you have that person’s written permission. View some of the following resources to learn more about what you can do online at the Social Security Administration website:
Social Security Online Services – View the complete list of services that you can do online
When to start receiving benefits – Useful information to help you understand how Social Security can fit into your retirement decision.
Social Security Benefits Calculators – Social Security has a variety of calculators to help you plan for the future including the Retirement Estimator.
Online retirement application – Learn how to apply online for social security retirement benefits, view the social security retirement application and find social security retirement information.