Evening star. [volume] (Washington, D.C.) 1854-1972, 1956-10-09
SECURITY FOR YOU
Benefit ut62
Is Problem
For Women
BY RAY HENRY

women WHO are near the new
social security retirement age OF
So seem most concerned with
one question:
Will l be better off to wait
until l reach 65 to start my So
cial security payments?
They're asking the question
because starting the payments
between g. and 65 means for
many of them that the pay
:nents will be smaller than if
they wait until they reach IS to
start. Congress provided for the
reduced payments when it re-
duced the retirement age this
year.
For some women, the question
is an easy one to answer. For
others, it cant be answered with
any certainty
Easy Answer for Some
First. the easy answer If
you're a widow 62 or older who's
eligible for payments based on
your deceased husbands record,
you should start drawing your
payments as soon as you can
because the reduction in pay
mentS doesn't apply to you.
But the reduction does apply
to wives of men entitled to social
security payments and women
eligible for payments based on
their own social security record.
For these. the question of watt
ing until they reach 65 and. thus,
not take the reduction in pay
ments. can't be answered with
certainty.
The reasons: Whether you'll
be better of depends en- how
long you live
Here's the story:
If you're the wife Of a retired
worker and you start drawing
your payments at age 81, they'll
be rs per cent of what you'd re-
ceive if you waited until you
reached 65. For each month you
delay in starting them after 81,
this percentage increases.
Example Given
For example: If you wait until
you reach IS, you'll get 83la per
cent OF the amount you'd get if
you waited until Is. II you wait
until you reach a. you'll get
9l23.
II you're a woman eligible for
payments based on your own
social security record, essentially
the same kind of an arrangement
applies, except that at age 90
your payments will be 90 per
cent Of what you'd get if you
waited until YOU reached IS.
Here again. tor each month you
delay in starting the payments
after you're 81, the percentage
increases.
Phus, whether you're better of
waiting until you reach 10 oc-
pends on whether your total pay
mcnts when you die equal what
you would have drawn hau you
started the payments at an ear
lier age.
Here $ an easy way to f.surc
out whether you're likely 10 bc
better #:
II you start the reduced pay
ments at any time between o.
and IS and the payments are
based on your own social secu-
rity record you'll be ahead in
total cash tol the FIRST IS years
IS Is Guide Age
For example, II you start the
payments at age 63. youil nave
to i've past your 78tn birthday
for the total OF the reduces pay
ments 70 be less than the iotsI
OF the payments II you'd have
waited until you reached % tC
start them
II you're the wife Of rctlee
worker entitled 70 social security
payments and you start thC &c.
duced payments at any age De-
tweer 81 and IS, you Il b. ahcac
for the first ~ years.
For example II you stat
drawing your payments at IS
you'll have to live until you're Z,
ior the total amount OF youi re-
duced payments to be less thar
the total Of your payments 1
you'd waited until sou were 81 Z
start them.
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