I always liked receiving those statements in the mail every year detailing my Social Security benefits. It reminded me that, yes, some of the money I paid in taxes that year would eventually come back to me when I retire. Sure, I could have registered to view my benefits online, but I just liked getting those statements. If you feel the same way, I have some good news for you—the Social Security Administration will resume mailing them out this September.
There is a catch, however. The statements will only be mailed to workers aged 25, 30, 35, 40, 45, 50, 55, 60, and older. And, if you registered to view your benefits online, you will not receive the mailed statement.
Why did the Social Security Administration decide to resume mailing benefits statements? A recent article I found online (I know, somewhat ironic, isn’t it?) discusses several reasons. One is that only about 11 million people signed up to access information about their benefits online. Given that Social Security is a primary component of a secure retirement, it is important that people understand the benefits that will be available to them when they retire.
The Social Security Administration also received pressure from advocacy groups for the elderly and the paper industry. The executive director of Consumers for Paper Options, John Runyan, pointed out that millions of Americans have no Internet access, and therefore no way to verify the accuracy and amount of their benefits.
Fortunately, now they will.
If you want to set up online access – click here.