After working hard all your life and doing everything you must do, you can’t wait to retire in peace. However, that peace can be disturbed if their financial troubles come knocking.
After retirement, getting your foster social security check becomes the highlight of the month, just as getting your paycheck. After all, you have saved this money all through your life so that you can spend it when you retire.
However, many retirees are taken aback when they discover their check is less than what they had expected or they might not receive any money. There are several reasons for something like this to happen. It can be anything from what you deposited into your account to when you retired.
Once you are aware of the problem, finding a solution is easier. Here are a few reasons the digits on your checks are not meeting your expectations.
Claiming Your Benefits Early
When retiring in a down market, you may have to decide between withdrawing heavily from your portfolio to delay Social Security or claiming your benefits early to preserve your savings longer. https://t.co/f5qdnD1DJx
— SmartAsset (@smartasset) April 4, 2023
Are you claiming benefits before reaching full retirement age? It is one of the most frequent causes of a decreased Social Security payment. There is a way to calculate the correct retirement age based on when you started working.
The retirement age for anybody born in 1960 or later is 67. If you make your retirement claim at 62, your monthly payout may be lowered by up to 30%. You will not get your full benefits even after you reach full retirement age because this reduction is permanent.
Deductions for Medicare Premiums
If you are a subscriber of Medicare plans, then the premiums are sometimes taken straight out of your Social Security paycheck. This is especially true for those with Plan B and Plan D.
The typical monthly Part B premium for 2025 is $174.70. However, for individuals with higher earnings, it may be much higher. The amount you receive as social security benefits may be significantly reduced by these deductions.
A History of Low or Incomplete Earnings
Working is already a requirement to get social security. https://t.co/uLIz6ZLUsp pic.twitter.com/Js05eVRDN2
— Candidly Tiff (@tify330) May 17, 2023
Social Security has a way to calculate your monthly payouts. They consider your 35 highest-earning years. Now, your benefit will be smaller if you worked for less than 35 years. Another reason to have a lesser amount is to have employment for 35 years with a lower income. Your average goes down. Therefore, your social security goes down.
It’s crucial to check your earning records frequently. One can use their online Social Security account for calculations.
Getting Paid While Working
If you start receiving Social Security before you reach full retirement age and keep working, you will receive less money. In 2025, $1 will be deducted from your benefits for every $2 beyond $23,400. Those withheld benefits are then recalculated. These are gradually refunded until you reach full retirement age.
Debt-Related Benefit Offsets
Be sure to be debt-free if you don’t want the government to garnish your social security. These benefits are withheld if you have outstanding federal loans. These include delinquent taxes, federal student loans, or child support.
‘Emergency message’ orders Social Security withhold 50% of benefits for those who were overpaid https://t.co/8A7vMsDP3J
— WSB-TV (@wsbtv) April 28, 2025
Recovery of Overpayments
If you have been overpaid in the last few years, the SSA will withhold the payments. They may withhold 100% of your check, too. However, as per the new policy, the maximum withhold limit for overpayment is 50%. So if you see more money in your account, it’s not free, and you better tell the government.
We calculate your #retirement payment based on how much you’ve earned throughout your life. Get your personalized retirement estimates by signing in to your personal #mySocialSecurity account: https://t.co/OK5Y3LmOGO pic.twitter.com/Lr8uQKq2uS
— Social Security (@SocialSecurity) March 28, 2025
There could also be an administrative error for the lesser money as SSA benefits. Therefore, be sure to contact the Social Security office. If the social security benefits are less than what you expected, take your time to find the reason. If there is something you can do to rectify the situation, do it now before the policy changes again.
