The Social Security Administration (SSA) runs three benefits under different criteria to fulfill your needs. As a wise man once quoted, “the government is always there in your family in times of economic needs”. The social security disability insurance (SSDI), supplemental social security (SSI) and the Social Security Retirement (SSR) are the three programs run under the SSA.
A very widely asked question to our lawyers is whether you would have to compromise your disability payments once you reach your retirement age? The answer is yes and no. No because the disability benefits would not be compromises because the amount will stay the same. Yes, because once you reach your retirement age your disability payments would be converted to retirement benefits. That would obviously only be valid if you qualified under SSDI benefits before.
However, depending on your situation not all of your benefits would be converted to your retirement benefits. But here is a tip to keep in mind, the net benefits you receive should not exceed the limit of your total receivable benefits. If your benefits amount exceeds the receivable benefits you would have to notify the SSA immediately. In case you fail to do that, you would be responsible to repay the exceeded benefits you received and also risk cancellation of your benefits in the future altogether.
Lastly, if you are qualified under SSI benefits, you may still receive a ratio of SSI after your retirement depending on the amount of benefit you receive adding the two up. If your retirement benefit exceeds your monthly income that was when you were working then your SSI may be cancelled. Or if you fail to provide all the details to the SSA all your benefits might get cancelled as a result of manipulation.
With that said, take a deep breath, and if you want to find a way to strategize your benefits between retirement, SSDI or SSI, feel free to contact our top notch attorney at Disability Advocates Group Law Firm (DAG).