Why is his SS payment is 160.00 less than previous month?
April 28, 2020
Q) I am writing to you all about my Father in laws, Social Security payment. His full name is SOU YAO,. His question is why is his SS payment is 160.00 less than previous month? Would you be able to help us to explain why this happened?
A) Your Social Security check will decrease if you owe certain debts like back taxes or student loans. An increase in your income often decreases your Social Security benefits. Taking your Social Security benefits early can reduce your payments by up to 30%. Triggered by higher income, a higher Medicare premium can diminish your monthly Social Security check. https://www.investopedia.com/articles/retirement/080216/your-social-security-check-smaller-you-thought.asp