How to Check Your Social Security Balance
Access and understand your Social Security statement to effectively plan your future benefits and financial security.
Checking your Social Security Statement is an important step in financial planning. This document provides a personalized record of your earnings and estimated benefits, helping individuals understand their potential income streams during retirement, in the event of disability, or for their survivors.
Accessing Your Social Security Statement Online
The primary method for obtaining your Social Security Statement is through a “my Social Security” account, which provides immediate access. To create an account, visit the Social Security Administration (SSA) website. The process requires personal details like your Social Security number, date of birth, mailing address, phone number, and an email address.
Identity verification is a step during account setup, requiring answers to security questions. Once your account is established, log in using your chosen username and password. From your account dashboard, find a link to view or download your Social Security Statement. This online portal allows convenient access to your earnings record and benefit estimates.
Understanding Your Social Security Statement
Your Social Security Statement contains several components that provide an overview of your earnings and potential benefits. One section details your estimated retirement benefits at different ages, showing amounts for claiming at your full retirement age, as early as age 62, and as late as age 70. These estimates are based on your earnings record and project your monthly benefit. The statement also outlines potential disability benefits, indicating the monthly amount you might receive if you become unable to work due to a severe medical condition.
Information regarding survivor benefits is also included, detailing the amounts your family members, such as a spouse or minor children, could receive upon your death. The statement also includes your earnings record, which lists your reported earnings for each year you worked. This record is used by the SSA to calculate your future benefits, making its accuracy important. Reviewing these sections helps you understand the financial protection Social Security offers.
Other Ways to Obtain Your Statement
For those who prefer not to use the online system or have difficulty accessing their “my Social Security” account, alternative methods are available. You can request a statement by mail by completing and submitting Form SSA-7004-SM, the Request for Social Security Statement. This form requires basic identifying information and can be downloaded from the SSA website or obtained by calling the agency. Once completed, mail the form to the provided address.
Another option is to request your statement by phone, by calling the Social Security Administration’s toll-free number. When contacting the SSA, be prepared to provide your Social Security number and other identifying information to verify your identity. The SSA will then mail a copy of your statement to your address on file. This process takes about 7 to 10 business days for the statement to arrive after the request.
Correcting Errors on Your Statement
Discovering an error on your Social Security earnings record requires action to ensure your future benefits are correctly calculated. If you identify an inaccuracy, such as missing earnings or incorrect amounts, contact the Social Security Administration to report the issue. The SSA has a process to investigate and correct errors on earnings records.
To support your claim for a correction, you will need to provide documentation that verifies your earnings. This documentation can include W-2 forms or copies of your federal income tax returns (Form 1040). Providing proper documentation helps the SSA process your request. After submitting your correction request and supporting documents, the SSA will review your information and notify you of their decision regarding the adjustment to your earnings record.