Posted on: 10 September 2020
Social Security Disability Insurance (SSDI) is meant to cover workers afflicted with a long-term medical condition. In some cases, the hurt worker is older and finds that they cannot wait until retirement age to stop working. Read on to find out what those older workers need to know about SSDI and retirement.
What to Know About Social Security Coverage
The Social Security Administration (SSA) is a government agency that provides an umbrella of various benefit programs for people. Among its many programs, alongside SSDI, is Social Security Income (SSI) and the two programs can be confused. SSI is not meant for former workers but for those with little income and assets. The other popular SSA program is Social Security retirement benefits. That program takes the earnings of workers and gives a portion back to them after they reach certain age milestones. SSDI and Social Security retirement programs are closely connected and are meant to work in tandem.
The SSDI and Retirement Connection
If you are unable to work, you can begin receiving benefits upon approval. The funds that pay SSDI recipients are the same funds that will eventually pay for their retirement. In fact, if you are approved for SSDI and are an older worker, you might want to consider the monthly benefit payment an early retirement payment. The way you get SSDI, however, is a lot more complex than opting in for a Social Security retirement payment when you reach a certain age.
SSDI Approval Issues
It's not easy to get SSDI benefits but the older you are, the easier it will be. Older people that have earned enough income in the most recent period will tend to have benefits approved more often than not. There are several key things to be aware of, though. While you are somewhat restricted in the amount of income you earn after you have retired, it's nowhere near as restrictive as with SSDI. The SSA monitors not just how much you earn but what work you do to earn it.
When Retirement Age Approaches
It's important to understand that you cannot earn both SSDI and retirement benefits at the same time. You must also keep in mind that your retirement benefit might be lower than your SSDI payment, depending on when you opt in for retirement. Once you start earning retirement, your SSDI benefit stops and cannot be re-started.
When retirement is years away and you can no longer work, being approved for SSDI is vital. If you are turned down, take advantage of the appeal and take along a Social Security lawyer to help you get the benefits you need.
For more information, contact a Social Security Disability lawyer today.Share