How Early Should You Apply for Social Security at Age 70?

Social Security retirement benefits offer a financial foundation for many individuals in their later years. Understanding how to maximize these benefits, particularly by delaying their commencement, can significantly affect one’s financial outlook. For those aiming to receive the highest possible monthly payment, delaying the start of benefits until age 70 is a common strategy, primarily due to the accrual of delayed retirement credits. This approach requires careful planning and a clear understanding of the application process to ensure a seamless transition into receiving these enhanced benefits.

When to Apply for Your Age 70 Benefits

To receive enhanced Social Security benefits at age 70, understanding the optimal application window is key. Delayed retirement credits accrue each month you postpone benefits past your full retirement age, up to age 70. These credits permanently increase your monthly benefit, reaching its maximum value at age 70. For those born in 1943 or later, these credits increase the monthly benefit by 8% per year.

The Social Security Administration (SSA) recommends applying up to four months before your desired start date. For age 70, this means applying in the months leading up to your 70th birthday. If your 70th birthday falls on the first day of a month, benefits can start in the month prior. For example, if your birthday is July 1st, you are considered age 70 in June, and benefits could begin then.

For most others, benefits begin in the month they turn 70. For example, if your 70th birthday is July 15th, benefits would start in July. Payments are generally made one month behind. Applying three to four months in advance allows the SSA sufficient time to process your application and ensures timely payments.

Information and Documents Needed for Application

Gathering specific information and documents before applying for Social Security can streamline the process. You will need:
Your Social Security number.
Your original birth certificate or a certified copy.
Proof of U.S. citizenship or lawful alien status, such as a U.S. passport or permanent resident card, if not born in the U.S.
W-2 forms from the previous year, or federal self-employment tax returns if self-employed.
Your bank account and routing numbers for direct deposit.
Your military discharge papers (Form DD-214), if you served in the military.
Marriage certificates and, if applicable, divorce decrees for spousal or survivor benefits.

Organizing these documents beforehand ensures accurate completion of your application.

How to Submit Your Social Security Application

Social Security applications can be submitted through several methods. The quickest way to apply is online through the Social Security Administration’s website. The online portal guides you through the application, allowing you to review entries before submission. This option offers flexibility.

You can also apply by mail. Print the application form from the SSA website, complete it, and mail it to your local Social Security office or a processing center. Use certified mail for important documents to ensure secure receipt. Include your Social Security number on a separate paper, not on original documents.

For in-person assistance, apply at a local Social Security office. Scheduling an appointment is recommended to minimize wait times. Bring all prepared documents and information to your visit.

What Happens After You Apply

After submitting your Social Security application, expect communications and processing steps from the Social Security Administration. Online applicants usually receive an immediate confirmation number to check status. For mail or in-person applications, a confirmation of receipt may be sent via mail within weeks.

Processing time for retirement applications generally ranges from a few weeks to a few months. The SSA may contact you for additional information, often by mail or through your online my Social Security account. Respond promptly to avoid processing delays.

Once a decision is reached, the SSA will notify you by mail regarding approval or denial. If approved, the notification includes your monthly benefit amount and payment start date. Benefits are paid monthly via direct deposit into the bank account provided, ensuring timely receipt.