Retire On Your Terms

Does it Pay to Delay Social Security?

Deciding when to begin taking Social Security payments can have a significant impact on retirement income planning. Most retirees initiate Social Security payments before their benefits reach their full potential. To help consumers and their financial advisors with this important decision, Symetra offers a web-based retirement planning toolkit that addresses the question, “Does it pay to delay Social Security?”

There are a number of factors to consider. In addition to a higher monthly benefit, delaying Social Security can provide:

  • Tax advantages, by deferring or reducing taxation on those benefits.
  • Spousal advantages, by potentially locking in a higher lifetime benefit for a surviving spouse.
  • Inflation protection, which is built into the Social Security program and mitigates one of the biggest risks faced by retirees.

Symetra’s site provides links to a variety of resources, presentations and strategy supporting material from respected industry experts and organizations. Presentations like “Keeping Pace with Retirement Planning: Ready, Set, Delay.” can help consumers put a retirement plan into action and learn how to use the resources that are available to help make the most of delaying Social Security.

Does it Pay to Delay SS