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Can you use social security as a savings and pay more into it to maximize payment?
Wiki User
∙ 7y ago
No. The social security tax for 2016 was 6.2 percent of your income and your employer had to contribute an additional 6.2 percent for a total of 12.4%. Their is no option to withhold more or less. To increase your contribution, you need to earn more money, work for a longer time before retiring, or delay collecting social security as each year you wait to collect social security the amount you can get increases.
Wiki User
∙ 7y ago
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What is government transfer payment?
Social Security
When you get your social security payment in July is that for June?
Yes. Social Security Retirement paymants are paid in arrears. So the check you receive in July is for your June payment
What is a payment made to person after he or she retires?
Social security
What is average ny social security benefit pay?
what is the average social security payment for all people that are retired
Does a state pension decrease your social security payment?
yes.
What is the top stop for social security payment?
70 years
What is regular payment made to a person after he or she retires?
Social security
How do you buy a savings bond?
Go to the bank with your Id and social security number and tell them you want to buy a savings bond
How do you buy savings bonds?
Go to the bank with your Id and social security number and tell them you want to buy a savings bond
If you turn 65 and begin getting social security retirement benefits does that decrease your spouses social security retirement check that he has already been getting?
No the social security payment amount that you are qualified to receive will not have any affect on the amount of your spouses payment amount that he is already receiving
When your wife retires and applies for social security what will happen if you receive disability?
It doesn't affect your disabiity payment. The Social Security money is hers.
Is there a cap on savings account while receiving social security disability benefits?
No cap. Your savings are not a factor in receiving social security benefits. After all, the government is simply returning YOUR money that you paid into your whole working life.
